... This paper constructs an original model of growth based on Adam Smith's notions of specialization and extent of the market. Growth depends on the specialization of labor in market production and learning‐by‐doing in transactions services. It is a model of sustained, but not infinite, growth. Findings...

...A.J. Ostaszewski Purpose To model a bargaining environment where the tactic of qualitative commitment (staking a principle) can have a demonstrably strong effect. Design/methodology/approach Amend the two‐person alternating offers model due to Rubinstein to include simultaneously pre‐announced...

...Nicholas P. Glytsos Purpose The aim of this paper is to investigate the impact of exogenous shocks of remittances on consumption, investment, imports and output in five Mediterranean countries. Design/methodology/approach This paper builds a Keynesian type econometric model with a dynamic...

... are included in the sample are examined. The estimations are carried out using probability regressions and two‐part models in which it is assumed that health resources are exogenous. The results indicate that increases in public health expenditure improve both psychological and physical health. © Emerald...

... cointegration and error‐correction modelling. Disaggregation of total imports into raw materials, consumer, intermediate and capital goods shows that long‐run relative price elasticities of import demand are greater than short‐run values, being above unity for raw materials and consumer goods; thus leading...

...Alan King In the absence of any theoretical guidance, a solution to the question of what is the appropriate functional form for an import demand model can only be found empirically. Examines this question in the context of UK motor vehicle imports by applying a range of tests of functional form...

...A. Harris; I.D. McAvinchey; A. Yannopoulos Uses a disaggregated model of United Kingdom factor usage to provide estimates of demand and substitution elasticities for energy inputs. Estimates 19 sectors in a two‐stage translog model including technical change, non‐constant returns and four energy...

...Julia Darby; Simon Wren‐Lewis An understanding of the determination of real wages is crucial in analysing the determination of the natural rate of unemployment or NAIRU. Uses cointegration techniques to examine a core theoretical model of the long‐run determinants of real wages involving unit...

...Roy Cromb Compares Layard, Nickell and Jackman′s empirical model of UK unemployment with other time‐series econometric studies to assess whether the balance of evidence supports their analysis. Compares estimates of the effect on the UK NAIRU of factors such as benefits,union strength, mismatch...