Purpose – The purpose of this paper is to examine the time series properties of 26 macroeconomic variables in Papua New Guinea (PNG) over the period 1970-2006. Design/methodology/approach – Both unit root and stationarity tests without a structural break and the Lagrange Multiplier (LM) unit...

Purpose – The purpose of this paper is to examine the time series properties of 26 macroeconomic variables in Papua New Guinea (PNG) over the period 1970‐2006. Design/methodology/approach – Both unit root and stationarity tests without a structural break and the Lagrange Multiplier (LM)...

This note critically evaluates the New Classical Macroeconomics from a Marshallian perspective. Revisiting the famous Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique", and that it is misleading to label this a critique of Keynesian economics. The...

There is no term that better describes the essential features of human society than complexity. On various levels, from the decision-making processes of individuals, through to the interactions between individuals leading to the spontaneous formation of groups and social hierarchies, up to the...