Working Paper No. 220b

Modeling Long-Term Macroeconomic Growth as a Micro-Based, Path Dependent, Experimentally Organized Economic Process


The lead theme of this essay asserts that a model of economic growth has to be explicit about the market dynamics of firm behavior. Firm dynamics originates in innovative behavior and in the price and quantity adjustments of agents when their mutually inconsistent plans are confronted in markets. Three characteristics determine what I call the experimentally organized model of an evolving economy; (1) the size of the opportunity set ("state space"), (2) the presence of "bounded rationality" and "tacit knowledge" ("behavior"), and (3) the degree of access to market opportunities.

Integrating Immigrants into the Nordic Labour Markets

An Overall Perspective

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Denmark, Finland, Norway and Sweden face similar problems of integrating large groups of immigrants, especially low-educated ones from outside the EU, into their labour markets. In this volume, edited by Lars Calmfors, IFN, and Nora Sánchez Gassen in cooperation with researchers from across the Nordic Region analyse how labour market integration of immigrants can be promoted. 

About the book

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