The Review of Economics and Statistics is an 84-year old general journal of applied (especially quantitative) economics. Edited at Harvard University's Kennedy School of Government, The Review has ...

This paper proposes a new, production theory approach to the determination of the real exchange rate, which is defined as the relative price of traded to nontraded goods as is common in the ...

This paper investigates the impact of public capital on private sector output by testing and estimating an aggregate production function for the U.S. economy over the postwar period augmented to ...

Mainstream economics is replete with ideas that “everyone knows” to be true, but that are actually arrant nonsense. For example, “everyone knows” that: • Aggregate production functions (and aggregate ...