Following the greatest economic depression since the 1930s, the grand old man of modern economic growth theory, Nobel laureate Robert Solow, on July 20, 2010, gave a prepared statement on “Building a Science of Economics for the Real World” for a hearing in the U. S. Congress. According to Solow modern macroeconomics has not only failed at solving present economic and financial problems, but is...

The standard measure of productivity growth is the Solow residual. Its evaluation requires data on factor input shares or prices. Since these prices are presumed to match factor productivities, the standard procedure amounts to accepting at face value what is supposed to be measured. In this paper we determine total factor productivity growth without recourse to data on factor input prices. Fac...

This paper presents, within a framework of the Solow model, evidence that there should be two different reasons for convergence. One is due to diminishing returns to capital and the other is due to technological diffusion. This paper shows that OECD and low income countries follow a pattern of conditional convergence but middle income countries do not. This seems to imply that technological dif...

A dynamic approach is proposed for the analysis of the Cournot oligopoly game with hyperbolic demand, showing that the adoption of capital accumulation dynamics either à la Solow-Swan or à la Ramsey eliminate the indeterminacy problem characterising the static model when marginal costs are nil. It is proved that the steady state equilibria produced by both models are stable in the saddle point ...

A rigorous model connects together the following three basic concepts: (1) "sustainability" meaning the generalized future power of an economy to consume over time; (2) "Green NNP" meaning a current measure of national income that subtracts off from GNP not just depreciation of capital but also, more generally, depletion of environmental assets evaluated at current efficiency prices; (3) "techn...

We present a system for the simple and fast creation of character animation which is used within an augmented reality environment. Instead of using fixed sequences of animation, the motion of the characters are created by subtasks which are able to change the motion dynamically according to the environment. Dynamic motion models are used to produce the animation data. These dynamic motion model...

This paper examines the behavior of postwar real U.S. GNP, the inputs to an aggregate production function, and the associated Solow residuals for the presence of nonlinearities in their generating mechanisms. To test for nonlinearity, we implement three di®erent statistical tests: the McLeod-Li test based on the correlogram of the squared data, the BDS test based on the correlation integral, an...

In 1958, A.W. Phillips discovered a strong negative correlation between inflation and unemployment in United Kingdom data. Continuing controversy surrounds the long-run trade-off suggested by a curve he drew through these observations. We conduct a wide-ranging investigation of the post-war U.S. Phillips correlations and Phillips curve. Many economists view the Phillips correlations as chimeric...

Kurzfassung. Die aktuelle Genauigkeit optischer Trackingsysteme in der Lageerkennung (Positionsund Orientierungserkennung) von Objekten führt in endoskopischen Augmented Reality Anwendungen zu deutlichen räumlichen Fehlern bei der Einblendung virtueller Objekte ins Endoskopbild. Es wird ein Verfahren präsentiert, das auf Basis der Bildinformation den Lagefehler korrigiert indem ein virtuelles M...