Academic profile

 

Professor Emeritus in Regional and Applied Macroeconomics

Emeritus Fellow in Economics & Land Economy, Downing College, Cambridge

Emeritus Senior Fellow, Department of Land Economy

John McCombie read for his undergraduate degree in Geography and Economics

at the University of Cambridge. After this, he went as a Commonwealth Scholar to McMaster

University, Canada where he studied for a MA in Geography. He returned to Cambridge, where he was awarded his PhD and was a Bye Fellow in Economics at Downing College. He subsequently was a member of the Department of Economics at the University of Hull and the University of Melbourne, before returning to Cambridge. He is currently Senior Emeritus Fellow in the Department of Land Economy and Emeritus Fellow of Downing College. He has been Acting Senior Tutor of Downing, where he was also Director of Studies in Economics as well as Land Economy. He has been elected Fellow of the Academy of the Social Sciences and Fellow of the Regional Studies Association.

 

 

 

His research interests are regional economics and macroeconomics, especially post-Keynesian Economics. In particular, he has undertaken research into the causes of regional and international growth disparities, cumulative causation models of economic growth and the Verdoorn law. Other research interests include economic growth and balance-of-payments constrained growth model, criticisms of the measurement of technical change and of the aggregate production function and the implications of economic methodology for the current controversies in macroeconomics.

 

He was Specialist Advisor to the House of Lords European Sub-Committee on the Future of the EU Structural and Cohesion Funds. He has been an economic consultant to the World Bank and the Asian Development Bank and been an editor, inter alia, of Spatial Economic Analysis, Regional Studies and Urban Analysis and Policy.

 

A festschrift entitled Alternative Approaches in Macroeconomics, Essays in Honour of John McCombie (ed. P Arestis), Palgrave Macmillan, was published in 2018.

 

 

 

Teaching

 

Part-time teaching of economics for a group of US universities.


 

Research interests

 

There is an emphasis in McCombie’s research on the impact of the balance-of-payments constraint on economic growth, together with the empirical relationship that has come to be known as Thirlwall’s law. This shows the fastest rate of growth a country can grow before this is limited by balance-of-payments problems. Early collaborative work in the 1990s with A.P. Thirlwall has established what is regarded as the canonical model. See our early book Economic Growth and the Balance-of-Payments Constraint published in 1994. This has led to a subsequent burgeoning in the literature over recent years. Another focus on research is on the severe problems facing the neoclassical aggregate production function. Work on the Cambridge capital theory controversies, together with the related aggregation problems, shows that the aggregate production function cannot theoretically exist. Nevertheless, it is still widely used, primarily because it gives a good  statistical fit to the data. However, it has been shown that all that estimations of aggregate production functions are doing are tracking an underlying National Income and Product Accounts identity. This is that the value of output definitionally equals  the sum of the total compensation of labour and total profits. In On Aggregate Production Functions and the Measurement of Technical Change: ‘Not Even Wrong’ (2013), J. Felipe and I examine this criticism in detail, including the large related literature that misleadingly uses the aggregate production function. It is shown explicitly how several studies that have been influential using this concept, are, however, deeply flawed.

 

 


 

Publications

 

Books

 

On Aggregate Production Functions and the Measurement of Technical Change: ‘Not Even Wrong’ (with Jesus Felipe), (2013) (Hardback and Paperback), Cheltenham, Edward Elgar.

 

Macroeconomics, Finance and Money: Essays in Honour of Philip Arestis, (co-editor with G. Fontana and M.C. Sawyer), (2010), Houndmills, Palgrave-Macmillan.

 

Missing Links in the Unemployment Relationship (co-editor with P. Arestis), (2009), Basingstoke, Palgrave Macmillan.

 

Unemployment: Past and Present (co-editor with P. Arestis), (2008), Basingstoke, Palgrave Macmillan.

 

The European Union: Current Problems and Prospects, (co-editor with C. R. González), (2008),

Basingstoke, Palgrave Macmillan.

 

Issues in Finance and Monetary Policy, (co-editor with C. R. González), (2008), Basingstoke,  Palgrave Macmillan.

 

 Economic Growth. New Directions in Theory and Policy, (co-editor with P. Arestis and M.C. Baddeley), (2007), Cheltenham, Edward Elgar.

 

The New Monetary Policy, Implications and Relevance, (co-editor with P. Arestis and M.C. Baddeley), (2006), Cheltenham, Edward Elgar.

 

Development and Economic Growth: Essays in Honour of A.P.Thirlwall, (2006) (co-editor with P. Arestis and  R. Vickerman), Cheltenham, Edward Elgar.

 

Essays on Balance of Payments Constrained Growth, (co-editor with A.P. Thirlwall), (2004, reprinted 2016), London, Routledge.

 

Globalisation, Regionalism and Economic Activity, (co-editor with P. Arestis and M.C. Baddeley), (2003) Basingstoke, Palgrave-Macmillan.

           

Growth and Economic Performance: Essays on Verdoorn’s Law,  (co-editor with M. Pugno and B. Soro), (2002), Basingstoke, Palgrave Macmillan.

 

What Global Economic Crisis?, (co-editor with P. Arestis and M.C. Baddeley), (2001), Houndmills: Palgrave,

 

Economic Growth and the Balance-of-Payments Constraint, (with A.P. Thirlwall), (1994), Basingstoke: Macmillan.

 

Papers in Peer-Reviewed Journals

 

Why Thirlwall’s Law is not a Tautology: More on the Debate over the Law, Review of Keynesian

 Economics, (2019), 7(4), 429-443.

 

Does Real Exchange Rate Undervaluation Really Promote Economic Growth?, (with R.S.M. Ribeiro and G. T. Lima), Structural Change and Economic Dynamics, (2020), 52, 408-417.

 

Structural Change and Cumulative Causation: A Kaldorian Approach, (with G.R. Magacho),

Metroeconomica, (2020), 71(3), 633-660.

 

Impacts of Trade Liberalization on Countries’ Sectoral Structure of Production and Trade: A Structural

Decomposition Analysis, (with G.R. Magacho, and J.J. Guilhoto), Structural Change and Economic

Dynamics, (2018), 46, 70-77.

 

A Sectoral Explanation of Per Capita Income Convergence and Divergence: Estimating Verdoorn’s Law for Countries at Different Stages of Development, (with G.R. Magacho), Cambridge Journal of Economics, (2018), 42(4), 917-93.

 

Brexit and its Possible Implications for the UK Economy and its Regions: A Post‐Keynesian Perspective, (with M.R.M. Spreafico), Papers in Regional Science, (2018), 97(1), 133-149.

 

Thirlwall's Law and the Specification of Export and Import Functions, (with J.P. Romero), (2018),

Metroeconomica, (2018), 69(2), 366-395.

           

Productivity Growth of the Cities of the Province of Jiangsu, China: a Kaldorian Approach,  (with M.R.M. Spreafico and X. Xu), International Review of Applied Economics, (2017), 32(4), 450-471.

 

Verdoorn’s Law and Productivity Dynamics: An Empirical Investigation into the Demand and Supply Approaches, (with G.R. Magacho), Journal of Post Keynesian Economics, (2017), 40(4), 600-621

 

A Reconciliation Proposal of Demand-driven Growth Models in Open Economies, (with R.S.M. Ribeiro and T. Lima),  Journal of Economic Studies, (2017), 44(2), 226-244.

 

Exchange Rate, Income Distribution and Technical Change in a Balance-of-payments Constrained Growth Model, (with R.S. Ribeiro, and  G.T. Lima), Review of Political Economy, (2016), 28(4), 545-565.

 

Differences in Increasing Returns between Technological Sectors: A Panel Data Investigation Using the EU KLEMS database, (with J.P. Romero), Journal of Economic Studies, (2016), 43(5), 863-878.

 

The Multi-Sectoral Thirlwall’s Law: Evidence from 14 Developed European Countries Using Product-level Data, (with J.P. Romero), International Review of Applied Economics, (2016), 30(3), 301-325.

 

Could the Icelandic Banking Collapse of 2008 have been Prevented? The Role of Economists Prior to the Crisis (with M.R.M. Spreafico), European Journal of Economics and Economic Policies, Intervention, (2016), 13(3), 323-338.

 

Interview with John McCombie: ‘I think there's absolutely no way out for them: an aggregate production function does not make any sense at all!’  Hein E. and Lavoie, M., European Journal of

Economics and Economic Policies, Intervention, (2015), 12(1), 1-6.

 

Kaldor’s ‘Technical Progress Function’ and Verdoorn’s Law Revisited, (with M.R.M. Spreafico), 

Cambridge Journal of Economics, (2015), 40(4), 1117-1136.

 

Increasing Returns to Scale and Regions: A Multilevel Model for Brazil (with G .Britto),  Brazilian

Keynesian Review, (2015), 1(2), 118-134.

 

The Aggregate Production Function: ‘Not Even Wrong’, (with J. Felipe), Review of Political Economy, (2014), 26(1), 60-84.

 

On Economic Paradigms, Rhetoric and the Microfoundations of Macroeconomics, European

Journal of Economics and Economic Policy, Intervention, (with I. Negru), (2014), 11(1), 53-66.

           

Thirlwall's Law and the Long-term Equilibrium Growth Rate: An Application to Brazil. An Addendum, (with G. Britto),  (2013) Journal of Post Keynesian Economics, vol. 35(4), p. 695.

 

Balance-of-Payments Constrained Growth, Structural Change, and the Thai Economy, (with N.

Tharnpanich), (2013) Journal of Post Keynesian Economics, 35(04), 569-598.

 

No End to the Consensus in Macroeconomic Theory? A Methodological Inquiry, (with M. Pike, (2013), American Journal of Economics and Sociology, 72(2), 497-528.

 

Lack of Balance, Coordination and Sustainability in Economic Development: China’s Growth and the 2007 Financial Crisis, (with N.F.B. Allington and M. Pike), Journal of Post Keynesian Economics, (2012), 35(1), 45-63.

 

On Herbert Simon’s Criticisms of the Cobb-Douglas and the CES Production Functions, (with J. Felipe), Journal of Post Keynesian Economics, (2011/12), 34(2), 275-293.

 

Lessons Not Learnt: From the Collapse of Long-Term Capital Management to the Subprime Crisis, (with N.F.B. Allington and M. Pike), Journal of Post Keynesian Economics, (2012),  3(4), 555-582.

 

Criticisms and Defences of the Balance-of-Payments Constrained Growth Model: Some Old, Some New”. PSL Quarterly Review (formerly Banca Nazionale Quarterly Review) (2011), 64 (259), 353-392.

 

Some Caveats in Modelling Technical Progress and Investment: The Case of China, Journal of

International Commerce, Economics and Policy, (with J. Felipe),(2012), 2(2), 305-324.

 

 ‘Cantabrigian Economics’ and the Aggregate Production Function, Journal of Economics and Economic Policy, Intervention, (2011), 8(10), 165-182.

 

The Failure of the New Macroeconomic Consensus: From Non-Ergodicity to the  Efficient Markets Hypothesis and Back Again (with N.F.B. Allington, and M. Pike), (2011), International Journal of Public Policy, 7(1/2/3), 4-21.

           

 Is Pakistan’s Growth Rate Balance-of-Payments Constrained? Policies and Implications for Development and Growth, (with J. Felipe), Oxford Review of Development Studies, (2011), 38, 477-496.

 

What is Wrong with Aggregate Production Functions. On Temple’s “Aggregate Production Functions and Growth Economics”, (with J. Felipe),  International Review of Applied Economics, (2010), 24(6), 665-684.

 

 On the Effectiveness of Fiscal Policy as an Instrument of Macroeconomic Policy, (with P. Arestis),

Economic Affairs, (2009), 29(1), 77-79.

           

Are Estimates of Labour Demand Functions Mere Statistical Artefacts?, (with J. Felipe), International

Review of Applied Economics, (2009), 23(2), 147-168.

           

Thirlwall's Law and the Long-term Equilibrium Growth Rate: An Application to Brazil (with G. Britto), Journal of Post Keynesian Economics, (2009),  31(2), 115-136.

           

Why the Data Tell Us Nothing about Returns to Scale and Externalities to Capital in Economic Growth, (with J. Felipe), Economia e Sociedade, (2009), 17, 657-675.

           

Increasing Returns and Growth of Industries in the EU Regions: Paradoxes and Conundrums, (with A.

Angeriz and M. Roberts), Spatial Economic Analysis, (2009), 4(2), 147-168.

           

Productivity Growth and Unemployment under Mrs. Thatcher Reconsidered, (with N.F.B. Allington),

European Journal of Economics and Economics Policy, Intervention, (2008), 5(2), 246-256.       

 

Effective Demand Constrained Growth in a Two-sector Kaldorian Model, (with M. Roberts), Journal of Post Keynesian Economics, (2008), 31(1), 57-78.

 

The Interest Rate Channel in the New Monetary Policy Framework, (with A. Angeriz, P. Arestis, and W. Mosler), Challenge: The Magazine of Economic Affairs, (2008), 51(2), 69-84.

           

New Estimates of Returns to Scale and Spatial Spillovers for EU Regional Manufacturing, 1986—2002, (with  A. Angeriz, and  M. Roberts), (2008),  International Regional Science Review, (2008), 31(1), 62-87.

 

Correcting for Biases when Estimating Production Functions: An Illusion of the Laws of Algebra?(with J. Felipe and R. Hasan), Cambridge Journal of Economics, (2008), 32(3), 441-459.

 

On the Rental Price of Capital and the Profit Rate. The Perils and Pitfalls of Total Factor Productivity Growth, (with J. Felipe), (2007), Review of Political Economy, (2007), 19(3), 317-345.

 

 Is a Theory of Total Factor Productivity Really Needed?, (with J. Felipe), Metroeconomica, (2007), 58(1), 195-229.

 

Returns to Scale and Regional Growth: The Static-Dynamic Verdoorn Law Paradox Revisited", (with M. Roberts), Journal of Regional Science, (2007), 47(2), 179-208. 

 

 

New Attitudes about Controlling Inflation, (with P. Arestis and W. Mosler), Challenge, (2006), 49, (September-October), 33-52.

 

The Tyranny of the Identity. Growth Accounting Revisited, (with J. Felipe), International Review of Applied Economics, (2006), 20(3), 283-299.

 

Productivity, Efficiency and Technical Change in EU Regional Manufacturing: A DEA Approach, (with A. Angeriz and M. Roberts), Manchester School, (2006), 74(4), 500-525.

 

La Functión de Producción Agregada en Retrospectiva, (with J. Felipe), Investigación Económica (2005), LXIV, 253, 43-88.

 

Why are Some Countries Richer than Others? A Sceptical View of Mankiw-Romer-Weil’s Test of the Solow Growth Model, (with J. Felipe), Metroeconomica, (2005), 56(3), 360-392.

 

Is Federal Policy Working?, (with P. Arestis), Challenge, (2005), 48(2), 48-66.

 

How Sound are the Foundations of the Aggregate Production Function?, (with J. Felipe), Eastern Economic Journal, (2005), 31(3), 467-488.

 

Comment on “Whatever Happened to the Cambridge Capital Theory Controversies?” by A. Cohen and G.C. Harcourt, (with J. Felipe), Journal of Economic Perspectives, (2004), 17(4), 299-301.

 

To Measure or not to Measure TFP Growth? A Reply to Mahadevan, (with J. Felipe), Oxford Development Studies, (2004), 32(2), 321-327.

 

Some Methodological Problems with the Neoclassical Analysis of the East Asian Miracle, (with J. Felipe), Cambridge Journal of Economics, (2003), 27(5), 695-721.

 

Productivity Growth in China Before and After 1978 Revisited, (with J. Felipe), Zagreb Review of Economics and Business, (2003), 5(1), 17-43.

 

Erkin Bairam: 1958-2001. His Contribution to Economics, (with S. Knowles), Ekonomia, (2003), 6(1), 1 –18.

 

A Problem with Some Estimations and Interpretations of the Mark-up in Manufacturing Industry, (with J. Felipe), International Review of Applied Economics, (2002), 16(2), 187-215.

 

Reflections on Economic Paradigms and Controversies in Economics, Zagreb International Review of

Economics and Business, (2001), 4(1), 1-25.

 

On Economic Paradigms, Revista do Instituto de Ciencias Economicas e Genencias (2001), 1(1), January/June 2001, pp.7-19.

 

The CES Production Function, the Accounting Identity and Occam’s Razor, (with J. Felipe), Applied Economics, (2001), 33(10), 1221-1232.

 

Biased Technical Change, Growth Accounting, and the Conundrum of the East Asian Miracle, (with

J. Felipe), Journal of Comparative Economics, (2001), 29(3), 542-565.

 

What Does the Aggregate Production Function Show? Further Thoughts on Solow's ‘Second Thoughts on Growth Theory’, Journal of Post Keynesian Economics, (2001), 23(4), 589-615.

 

Regional Production Functions and the Accounting Identity: A Problem of Interpretation”, Australasian Journal of Regional Studies, (2000), 6(2),133-156.

 

 

The East Asian Economic Crisis: Retrospect and Prospect, (with A.P. Thirlwall), Economist Intelligence Unit, (2000).

 

Increasing Returns and Economic Growth. Evidence for Manufacturing from the European Union Regions, (with B. Fingleton), Oxford Economic Papers, (1999) 50(1), 89-105. Correction, (1999), 51, 574-575.

 

Wan’s “New Approach” to Technical Change: A Comment, (with J. Felipe), Journal of Comparative

Economics, (1999), 27(2), 355-63.

 

In Defense of Kaldor: Comment on Casillas’s ‘Kaldor versus Prebisch on Employment and

Industrialisation’,  Journal of Post Keynesian Economics, (1998-99), 21(2), 353-61.

 

 ‘Are There Laws of Production?’: Some Early Criticisms of the Cobb-Douglas Production Function,

Review of Political Economy, (1998),10(2), 141-73.

 

On Hsing's Critique of Solow's ‘Technical Change and the Aggregate Production’ , Cambridge Journal of Economics, (1998), 20(6), 785-95.

 

The Empirics of Balance-of-Payments Constrained Growth, Journal of Post Keynesian Economics, (1997), 19(3), 345-75.

 

The Dynamic Harrod Foreign Trade Multiplier and the Demand-orientated Approach to Economic Growth: An Evaluation, (with A.P. Thirlwall), International Review of Applied Economics, (1997), 11(1), 5-26.

 

Keynes, the New Keynesians, the Post Keynesian Economists and Involuntary Unemployment, Ekonomska Misao I Praksa, (1996), 5(3), 397-428.

 

Economic Growth, Trade Interlinkages and the Balance-of-Payments Constraint, Journal of Post Keynesian Economics, (1993), 5(4), 471-505.

 

`Thirlwall's Law' and Balance-of-Payments Constrained Growth: More on the Debate, Applied Economics, (1992), 24(5), 493-512.

 

The Postwar Productivity Slowdown and the Intersectoral Reallocation of Labour, Australian Economic

Papers, (1991), 30(56), 70-85.

 

Estimating Technical Change in Production Functions: A Critique, (with R. Dixon), International Review of Applied Economics, (1991), 5(1), 24-46.

 

Cyclical Variation in the Capacity Utilisation Rate: A Comment on  Garrison, Journal of Post Keynesian Economics, (1991), 13(3), 446-54.

 

Inter-Industry Differences in the Factor-augmenting Bias of Technological Change, (with R. Dixon),

Australian Economic Papers, (1989),  28(52), 103-11.

 

‘Thirlwall's Law’ and Balance-of-Payments of Constrained Growth - A Comment on the Debate, Applied Economics, (1989), 21(5), 611-29.

 

 

A Synoptic View of Regional Growth and Unemployment: II - The Post  Keynesian Theory, Urban Studies,  (1988), 25(5), 399-417.

 

 A Synoptic View of Regional Growth and Unemployment: I – The Neoclassical Theory, Urban Studies, (1988), 25(4), 267-281.

 

 Keynes and the Nature of Involuntary Unemployment,  Journal of Post Keynesian Economics, (1987-88), 10(2), 202-15.

 

Does the Aggregate Production Function Imply Anything About the Laws of Production? A Note on the

Simon and Shaikh Critiques, Applied Economics, (1987), 19(8), 1121-36.

 

Competitive Strengths and Regional Economic Growth: The Case of the Victorian State Economic Strategy, (with C.L. Richardson), Australian Journal of Regional Studies, (1987), 1, 3-22.

 

On Some Interpretations of the Relationship Between Productivity and Output Growth, Applied Economics, (1986), 18(11), 1215-25.

 

Why Cutting Real Wages will not Necessarily Reduce Unemployment – Keynes and the `Postulates of the Classical Economics', Journal of Post Keynesian Economics, (1985-86), 8(2), 233-48.

 

 Increasing Returns and Manufacturing Industries: Some Empirical Issues,  Manchester School, (1985), 53(1), 55-75.

 

Economic Growth, the Harrod Foreign Trade Multiplier and the Hicks Super-multiplier, Applied

Economics, (1985), 17(1), 55-72.

 

The Verdoorn Controversy: Some New Evidence Using US State Data, (with J.R. de Ridder),  Oxford

 Economics Papers, (1984), 36(2), 268-84.

 

 Kaldor's Laws in Retrospect, Journal of Post Keynesian Economics, (1983), 5(3), 414-29.

 

Increasing Returns, Productivity and Output Growth: The Case of the United States, (with J.R. de Ridder), Journal of Post Keynesian Economics, (1983), 5(3), 373-87.

 

How Important is the Spatial Diffusion of Innovations in Explaining Regional Growth Disparities?, Urban Studies, (1982), 19(4), 377-82.

 

 Economic Growth, Kaldor's Laws and the Static-Dynamic Verdoorn Law Paradox, Applied Economics, (1982), 14(3), 279-94.

 

 What Still Remains of Kaldor's Laws? , Economic Journal, (1981), 91(361), 206-16.

 

Are International Growth Rates Constrained by the Balance of Payments? A Comment on Professor

Thirlwall, Banca Nazionale del Lavoro Quarterly Review, (1981), 39, December, 455-458.

 

 On the Quantitative Importance of Kaldor's laws, Bulletin of Economic Research, (1980), 32(2), 102-12.

 

 Utility, Accessibility and Entropy in Spatial Modelling: A Comment, Swedish Journal of Economics, (1975), 77(4), 497-501.

 

Chapters in Books   

 

Capital Controls and the Icelandic Banking Collapse: An Assessment (with M.R.M. Spreafico), in P.

Arestis, (ed.), Financial Liberalisation, Springer International Publishing (2016).

 

 

How Sound are the Foundations of the Aggregate Production Function? (with J. Felipe) in G.C. Harcourt and P. Kriesler (eds), The Oxford Handbook of Post-Keynesian Economics, Oxford, Oxford University Press (2013).

 

All Lucky Breaks Come to an End: The Shortcomings of Macroeconomic Models Following the Financial Crisis and the Contribution of Behavioural Economics to the Reconfiguration of Macroeconomics”  (with N.F.B. Allington and M. Pike) in  O. Dejuan, E. F. Panos, and J. U González (eds), Post-Keynesian Views of the Crisis and its Remedies. Abingdon, Routledge (2013).

 

Criticisms and Defences of the Balance of Payments Constrained Growth Model. Some Old, Some New” in E. Soukiazis and P. A. Cerqueira  (eds), Models of Balance of Payments Constrained Growth; History

Theory and Empirical Evidence, Basingstoke: Palgrave Macmillan (2012)

 

The Problem of Young People Not in Employment, Education or Training: Is there a ‘Neet’ Solution?,  (with M. Pike) in P. Arestis (ed.) Microeconomics, Macroeconomics and Economic Policy, Festschrift in Honour of Malcolm Sawyer, Basingstoke, Palgrave Macmillan, (2011).

 

The Impact of the Subprime Financial Crisis on the Transition and Central Asian Economies: Causes and Consequences, (with N.F.B. Allington) in P. Arestis, R. Sobreira and J. L. Oreiro (eds), An Assessment of the Global Impact of the Financial Crisis, Basingstoke, Palgrave Macmillan, (2011).

           

The Thatcher Monetarist Experiment, 1979-1986: A Retrospective View, in Fontana, G., McCombie, J.S.L., and Sawyer, M. (eds) Macroeconomics  Finance and Money: Essays in Honour of Philip Arestis, Houndmills: Palgrave Macmillan, (2010).

 

On Accounting Identities, Simulation Experiments and Aggregate Production Functions: A Cautionary Tale for (Neoclassical) Growth Theorists, (with J. Felipe) in Setterfield, M. (ed.) Handbook of Alternative Theories of Growth,      Cheltenham: Edward Elgar, (2010).

 

On Competing Views of the Importance of Increasing Returns, Cumulative Causation and Path

Dependency, (with M. Roberts) in Berger S (ed.), The Foundations of Non-Equilibrium Economics: The Principle of Circular and Cumulative Causation, London, Routledge, (2009).

           

What Can the Labour Demand Function Tell us about Wages and Employment? The Case of the Philippines (with J. Felipe) in Berg, J. and Kucera, D. (eds) In Defence of Labour Market Institutions.  International

Labour Organisation (ILO) and Houndmills, Palgrave Macmillan, (2008).

           

 The ‘Thatcher Experiment’, 1979-1990: Did it Lead to an Economic Renaissance of the UK? (with N.F.B. Allington) in P. Arestis and J.S.L. McCombie (eds), Missing Links in the Unemployment Relationship, Basingstoke: Palgrave-Macmillan, (2008).

 

Nonsense Upon Stilts: An Assessment of the European Stability Pact and how it Might be Reformed”, (with N.F.B. Allington) in  J.S.L. McCombie and  C. Rodriguez Carlos (eds), The European Union: Current Problems and Prospects, Basingstoke: Palgrave Macmillan, (2007).

 

Economic Growth and Beta-convergence in the East European Transition Economies” (with N.F.B. Allington) in  Economic Growth. New Directions in Theory and Policy, in P. Arestis, M C. Baddeley and J.S.L. McCombie (eds), Cheltenham: Edward Elgar, (2007).

 

The Nature of Economic Growth and the Neoclassical Approach: More Questions than Answers? in Growth and Economic Development: Essays in Honour of A.P. Thirlwall, P. Arestis, J.S.L. McCombie and

R. W. Vickerman, (eds), Cheltenham, Edward Elgar, (2006).

 

A Non-parametric Analysis of Productivity, Efficiency and Technical Change in EU Regional Manufacturing, 1986-2002"(with A. Angeriz and M. Roberts), in Fingleton, B. (ed.), New Directions in Economic Geography, Cheltenham, Edward Elgar, (2006)

 

Stock Market Prices and the Conduct of Monetary Policy under the New Consensus Monetary Policy, (with N.F.P. Allington) in P. Arestis, M. C. Baddeley and J.S.L. McCombie, (eds),  The New Monetary Policy. Implications and Relevance, Edward Elgar (2005).

 

Increasing Returns and the Verdoorn Law from a Kaldorian Perspective” , in Productivity Growth and Economic Growth: Essays on Verdoorn’s Law, in J.S.L. McCombie,  M. Pugno and B. Soro, (eds), Houndmills: Palgrave, (2003).

 

Balance of Payments Constrained Economic Growth in The Elgar Companion to Post Keynesian Economics, in J.E. King (ed.), Basingstoke, Edward Elgar, (2003).

 

The Role of the Balance of Payments in Economic Growth” (with M. Roberts), in M. Setterfield (ed.), The Economics of Demand-led Growth, Basingstoke, Edward Elgar, (2002).

 

An Historical Perspective of Speculative Bubbles and Financial Crises: Tulipmania and the South Sea Bubble” (with M.C. Baddeley) in P. Arestis, M. C. Baddeley and J.S.L. McCombie (eds), What Global Economic Crisis? Houndmills, Palgrave Macmillan, (2001).

 

 Economic Integration, the EMU and Regional Growth, in P. Davidson and J. Kregal (eds),  Full

Employment and Price Stability in a Global Economy, Basingstoke, Edward Elgar, (1999).

 

 Growth in an International Context: a Post-Keynesian View, (with A.P. Thirlwall) in J. Deprez and J.T. Harvey (eds), Foundations of International Economics  London: Routledge, (1999)

 

 A Problem with the Empirical Neoclassical Analysis of Economic Growth” in Growth, Employment and Inflation: Essays in Honour of John Cornwall, M. Setterfield (ed.) Basingstoke: Macmillan (1999)

 

Rhetoric, Paradigms and the Relevance of the Aggregate Production Functions, in P. Arestis et al. (eds) Method, Theory and Policy in Keynes: Essays in Honour of Paul Davidson, Cheltenham, Edward Elgar, (1998).

 

Keynes, Involuntary Unemployment and Wage and Price Inflexibility in S. Sharma (ed.) Keynes After 60 Years, Cheltenham, Edward Elgar, (1998).

 

Harrod and Economic Growth in an International Context in A.P. Thirlwall, G. Rampa, L. Stella (eds),  Harrod: Economic Dynamics, Growth, and Trade, Basingstoke: Macmillan, (1998)

 

Economic Growth and the Balance-of-Payments Constraint Revisited (with A.P. Thirlwall), in P. Arestis, G. Palma, and M.C. Sawyer (eds), Markets, Unemployment and Economic Policy,  Essays in Honour of Geoff Harcourt, Cheltenham, Edgar Elgar, (1997).

 

The Re-emergence of the Balance of Payments Constraint (with A.P. Thirlwall) in J. Michie (ed.), 1979-1991: The Economic Legacy, Cambridge, Mass, Academic Press (1992).

 

Biased Technological Change in Australian Manufacturing (with R. Dixon) , in C. Hamilton, (ed.)  in The Economic Dynamics of Australian Industry Sydney: Allen & Unwin, (1991).

 


 

Recent PhD students

 

 

G. Britto

G.R Magacho

R S M Ribeiro

J.P Romero

M. Roberts

 

 

 


 

Category/Classification

 

Regional Economics, Post-Keynesian Economics, Macroeconomics, Economic Methodology,