Brazilian’s structural change and economic performance: structuralist comments on macroeconomics policies

Microeconomic Policies and Structural Change

From about the mid 1980s, Australia has sought to improve the performance of its markets and industries by actively implementing a program of microeconomic reform. It was recognised that there was a plethora of distortions which had the effect of promoting inefficient performance, and the reform program was directed towards removing these distortions. These reforms held the promise of significa...

Economic Development And Structural Change

MPhil Macroeconomics: Economic Growth

2 Solow’s ‘shocker’ 5 2.1 Details of the model . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 2.2 Steady state growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 2.3 Technological change . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 2.4 Growth accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 2.5 Decentralised economy . . . . . . . . . . . ...

Discussion of Microeconomic Policies and Structural Change

My comments may be summarised by an inversion of Solow’s famous comment that the information technology productivity miracle can be seen everywhere but in the productivity statistics. By contrast, the Australian productivity miracle can be seen only in the productivity statistics. The lesson of everyday life is that people are running harder to stay in the same place. More formally, an increase...

Essays on the Macroeconomics of Economic Development

Chapter 1 contains a theory of misallocation. In contrast to a recent literature where misallocation stems from imperfect input markets, I study an economy with non-competitive output markets. This change of focus has two implications. In the cross-section of firms, static misallocation, i.e. the dispersion of marginal products, is not driven by constraints limiting expansion possibilities, but...