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For Adam Smith, wealth was related to the division of labor. As people and firms specialize in different activities, economic efficiency increases, suggesting that development is associated with an in...
Economic Complexity: Fundamental Issues And Policy ImplicationsThe Nature of Persistent Business Cyc
2008/1/17
The nature of persistent business cycles and growth fluctuations can be understood by a unified approach in measurement and theory. It is found that the HP trend-cycle decomposition provides a consist...
Abstract
Washington consensus and shock therapy forgot Keynesian lessons from the Great Depression: market instability and the active role of government in promoting growth. The severe output decline...
Market Instability and Economic Complexity: Theoretical Lessons from Transition Experiments
2007/8/13
Ping Chen, "Market Instability and Economic Complexity: Theoretical Lessons from Transition Experiments," in Yang Yao and Linda Yueh eds., Globalisation and Economic Growth in China, Chapter 3,pp.35-5...