This study investigates the impact of Nigerian government expenditure (disaggregated into capital and recurrent) on economic growth using time series data for the period 1970-2019. The paper employs Autoregressive Distributed Lag (ARDL) model. To ensure robustness of results, the study accounts...

In this chapter, we demonstrate a way to get started with system dynamics modeling of a national economy, using a modular software framework called the MacroLab Template. The Template can be customized to reflect a modeler’s hypotheses about how an economy works. To illustrate the modeling...

In 1949, A. W. H. (Bill) Phillips and Walter Newlyn designed and built an electro-hydraulic dynamic model of the macroeconomy of a country. It was the first analog computer to solve the nonlinear coupled differential equations of mid-twentieth century economic theory and led to the use of...

This chapter explores a feedback theory of redistribution presented in one of the most influential papers in the history of social policy: Korpi and Palme's "The Paradox of Redistribution and Strategies of Equality: Welfare State Institutions, Inequality, and Poverty in the Western Countries"...

This chapter documents a multi-disciplinary collaboration among a mathematical economist, an ecological economist, and a systems scientist to demonstrate the contributions of system dynamics (SD) to the advancement of dynamic modeling in ecological economics. Ecological economics is a...