Output Dynamics, Flow Equilibria and Structural Change – A Prolegomenon to Evolutionary Macroeconomics
In an evolutionary approach to macroeconomics, the market disequilibrium dynamics resulting from structural change need to be properly represented at the aggregate level. As suggested by the late F.A.Hayek, a suitable equilibrium concept required to this end as a frame of reference, is that of a flow equilibrium. The paper explores the corresponding flow dynamics that draw attention to variables not usually considered in macroeconomic theorizing. Using statistical estimates for these new variables for the West German manufacturing sector during the German unification process allows some important new insights on the relationships between structural change and macroeconomic performance.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||Nov 2007|
|Date of revision:|
|Contact details of provider:|| Postal: Deutschhausstrasse 10, 35032 Marburg|
Web page: http://www.uni-marburg.de/fb19/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ulrich Witt & Guang-Zhen Sun, 2002. "Myopic Behavior and Cycles in Aggregate Output - A Note on the Role of Correlated Quantity Adjustments," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 222(3), pages 366-376.
- Los, Bart & Verspagen, Bart, 2002.
"The evolution of productivity gaps and specialization patterns,"
CCSO Working Papers
200301, University of Groningen, CCSO Centre for Economic Research.
- Bart Los & Bart Verspagen, 2006. "The Evolution Of Productivity Gaps And Specialization Patterns," Metroeconomica, Wiley Blackwell, vol. 57(4), pages 464-493, November.
- Amendola, Mario & Gaffard, Jean Luc & Saraceno, Francesco, 2005. "Technical progress, accumulation and financial constraints: is the productivity paradox really a paradox?," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 243-261, June.
- J. Stan Metcalfe & John Foster & Ronnie Ramlogan, 2006.
"Adaptive economic growth,"
Cambridge Journal of Economics,
Oxford University Press, vol. 30(1), pages 7-32, January.
- Metcalfe, John S. & Foster, John & Ramlogan, Ronnie, 2003. "Adaptive Economic Growth," Centre on Regulation and Competition (CRC) Working papers 30637, University of Manchester, Institute for Development Policy and Management (IDPM).
- Mario Amendola & Jean-Luc Gaffard, 1998.
"Out of equilibrium,"
- Marie Amendola & Jean-Luc Gaffard, 2003. "Persistent unemployment and co-ordination issues: an evolutionary perspective," Journal of Evolutionary Economics, Springer, vol. 13(1), pages 1-27, 02.
- Foster, John & Wild, Phillip, 1999. "Econometric Modelling in the Presence of Evolutionary Change," Cambridge Journal of Economics, Oxford University Press, vol. 23(6), pages 749-70, November.
- Jan Fagerberg & Bart Verspagen & Marjolein Caniëls, 1997. "Technology, Growth and Unemployment across European Regions," Regional Studies, Taylor & Francis Journals, vol. 31(5), pages 457-466.
- Hayek, Friedrich A. von, 1984. "Der Strom der Güter und Leistungen," Beiträge zur Ordnungstheorie und Ordnungspolitik, Mohr Siebeck, Tübingen;Walter Eucken Institut, Freiburg, Germany, edition 1, volume 101, number urn:isbn:9783163447882, May.
When requesting a correction, please mention this item's handle: RePEc:esi:evopap:2007-12. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christoph Mengs)
If references are entirely missing, you can add them using this form.