John Mccombie
Biographic Data
| ID | 714122 |
|---|---|
| NAME | John Mccombie |
| GIVEN NAMES | John |
| FAMILY NAME | Mccombie |
| SIGNATURE | MCCOMBIE J |
| AFFILIATIONS | University of Cambridge |
| VERIFIED | No |
| TOTAL WORKS | 16 |
| TOTAL CITATIONS | 75 |
| AUTHOR COUNT | 16 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1981 |
| LATEST PUBLICATION YEAR | 2017 |
| H-INDEX | 4 |
Trade and Regional Development
Early work on trade and regional development drew largely on the pure theory of international trade, notably the theory of comparative advantage and the Heckscher–Ohlin theory. The new economic geography emphasizes the role of increasing returns, broadly defined, and trade (with transport costs) and provides an explanation for the spatial concentration of production. Export‐led growth theory also emphasizes the role of increasing returns to scale…
Brexit and its possible implications for the UK economy and its regions: A post‐Keynesian perspective
Economic Growth and the Balance-Of-Payments Constraint
Exchange Rate, Income Distribution and Technical Change in a Balance-of-Payments Constrained Growth Model
This article develops a formal model that accounts for the net effect of an exchange rate devaluation on the long-term balance-of-payments constrained growth rate. Such a model investigates how a currency devaluation impacts on the home country non-price competitiveness via changes in income distribution and the rate of technological innovation. The model is built upon two plausible hypotheses. First, it is assumed that the rate of technological …
The Aggregate Production Function: ‘Not Even Wrong’
The foundations of the aggregate production function were long ago thrown into doubt by problems of aggregation and the Cambridge capital theory controversies. Yet the aggregate production function, whether in the familiar form of the Cobb-Douglas, the CES, or the translog, continues to be widely used in both theoretical and applied analysis. The reason for its continued use rests on the instrumental position that ‘it works’. The aggregate produc…
No End to the Consensus in Macroeconomic Theory? A Methodological Inquiry
After the acrimonious debates between the New Classical and New Keynesian economists in the 1980s and 1990s, a consensus developed, namely, the New Neoclassical Synthesis. However, the 2007 credit crunch exposed the severe limitations of this approach. This article presents a methodological analysis of the New Neoclassical Synthesis and how the paradigmatic heuristic of the representative agent, namely, market clearing subject to sticky prices, e…
Why the data tell us nothing about the importance of increasing returns to scale and externalities to capital
It has long been known that, because of aggregation problems and the Cambridge Capital Theory Controversies, the aggregate production function cannot theoretically exist. Nevertheless, the concept is still widely and uncritically used, presumably because it gives good statistical fits to the data with plausible results. It is shown that this occurs because of the existence of an underlying accounting identity. A suitable mathematical transformati…
On the Rental Price of Capital and the Profit Rate: The Perils and Pitfalls of Total Factor Productivity Growth
This paper considers the implications of the conceptual difference between the rental price of capital, embedded in the neoclassical cost identity (output equals the cost of labor plus the cost of capital), which is used in growth accounting studies; and the accounting profit rate, which can be derived from the National Income and Product Accounts (NIPA). The neoclassical identity is a ‘virtual’ identity in that it depends on a series of assumpti…
Are There Laws of Production’: An assessment of the early criticisms of the
This paper traces the development of the Cobb–Douglas production function from its inception in 1927 and critically assesses its early hostile reception. Further econometric evidence is also presented on these issues. Some of the criticisms were easily dealt with, but other more serious ones remained and, although equally relevant today, have been all but forgotten. The original regressions of Cobb and Douglas using time-series data produced some…
A New View of Economic Growth
Journal Article A New View of Economic Growth Get access A New View of Economic Growth. By MAURICE FITZGERALD SCOTT. (Oxford: Clarendon Press, 1989. Pp. xlix + 592. £50.00 hardback. ISBN 0 19 8286740.) John McCombie John McCombie Downing College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 399, 1 March 1990, Pages 271–274, https://doi.org/10.2307/2233623 Published: 01 …
A Synoptic View of Regional Growth and Unemployment: II —The Post-Keynesian Theory
This paper discusses the post-Keynesian explanation of the causes of disparities in regional growth and unemployment rates. It begins by examining the relationship between the real wage rate, the level of demand and regional unemployment. Next, it shows how regional growth is primarily determined by the rate of growth of exports. A two-region model is outlined which demonstrates how regional growth rates are interrelated through interregional tra…
A Synoptic View of Regional Growth and Unemployment: I - The Neoclassical Theory
This paper is the first part of a consideration of the implications of the current controversies in macroeconomics for regional growth theory. It is concerned with the neoclassical explanation of disparities in regional growth and unemployment rates. The one-sector and two-sector neoclassical models are surveyed and it is shown how this approach explains differences in productivity growth in terms of the progressive eradication of an initial misa…
Economic Growth and Declining Social Welfare
Journal Article Economic Growth and Declining Social Welfare Get access Economic Growth and Declining Social Welfare. By Xenophon Zolotas. (New York: New York University Press, 1981. Pp. xiv + 199. $19.50.) John S. L. McCombie John S. L. McCombie University of Hull Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue 369, 1 March 1983, Pages 246–247, https://doi.org/10.2307/2232198 Publis…
Phases of Capitalist Development
Journal Article Phases of Capitalist Development Get access Phases of Capitalist Development. By ANGUS MADDISON (Oxford: Oxford University Press, 1982. Pp. ix 4- 274. £15.00 hardback, £5.95 paperback.) John S. L. McCombie John S. L. McCombie University of Hull Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue 370, 1 June 1983, Pages 428–429, https://doi.org/10.2307/2232808 Published: 0…
How Important is the Spatial Diffusion of Innovations in Explaining Regional Growth Rate Disparities
What Still Remains of Kaldor's Laws
Economic Growth and the Balance-Of-Payments Constraint
Economic Growth and Declining Social Welfare
Journal Article Economic Growth and Declining Social Welfare Get access Economic Growth and Declining Social Welfare. By Xenophon Zolotas. (New York: New York University Press, 1981. Pp. xiv + 199. $19.50.) John S. L. McCombie John S. L. McCombie University of Hull Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue 369, 1 March 1983, Pages 246–247, https://doi.org/10.2307/2232198 Publis…
A New View of Economic Growth
Journal Article A New View of Economic Growth Get access A New View of Economic Growth. By MAURICE FITZGERALD SCOTT. (Oxford: Clarendon Press, 1989. Pp. xlix + 592. £50.00 hardback. ISBN 0 19 8286740.) John McCombie John McCombie Downing College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 399, 1 March 1990, Pages 271–274, https://doi.org/10.2307/2233623 Published: 01 …
The Aggregate Production Function: ‘Not Even Wrong’
The foundations of the aggregate production function were long ago thrown into doubt by problems of aggregation and the Cambridge capital theory controversies. Yet the aggregate production function, whether in the familiar form of the Cobb-Douglas, the CES, or the translog, continues to be widely used in both theoretical and applied analysis. The reason for its continued use rests on the instrumental position that ‘it works’. The aggregate produc…
Are There Laws of Production’: An assessment of the early criticisms of the
This paper traces the development of the Cobb–Douglas production function from its inception in 1927 and critically assesses its early hostile reception. Further econometric evidence is also presented on these issues. Some of the criticisms were easily dealt with, but other more serious ones remained and, although equally relevant today, have been all but forgotten. The original regressions of Cobb and Douglas using time-series data produced some…
A Synoptic View of Regional Growth and Unemployment: I - The Neoclassical Theory
This paper is the first part of a consideration of the implications of the current controversies in macroeconomics for regional growth theory. It is concerned with the neoclassical explanation of disparities in regional growth and unemployment rates. The one-sector and two-sector neoclassical models are surveyed and it is shown how this approach explains differences in productivity growth in terms of the progressive eradication of an initial misa…
How Important is the Spatial Diffusion of Innovations in Explaining Regional Growth Rate Disparities
What Still Remains of Kaldor's Laws
Exchange Rate, Income Distribution and Technical Change in a Balance-of-Payments Constrained Growth Model
This article develops a formal model that accounts for the net effect of an exchange rate devaluation on the long-term balance-of-payments constrained growth rate. Such a model investigates how a currency devaluation impacts on the home country non-price competitiveness via changes in income distribution and the rate of technological innovation. The model is built upon two plausible hypotheses. First, it is assumed that the rate of technological …
No End to the Consensus in Macroeconomic Theory? A Methodological Inquiry
After the acrimonious debates between the New Classical and New Keynesian economists in the 1980s and 1990s, a consensus developed, namely, the New Neoclassical Synthesis. However, the 2007 credit crunch exposed the severe limitations of this approach. This article presents a methodological analysis of the New Neoclassical Synthesis and how the paradigmatic heuristic of the representative agent, namely, market clearing subject to sticky prices, e…
Phases of Capitalist Development
Journal Article Phases of Capitalist Development Get access Phases of Capitalist Development. By ANGUS MADDISON (Oxford: Oxford University Press, 1982. Pp. ix 4- 274. £15.00 hardback, £5.95 paperback.) John S. L. McCombie John S. L. McCombie University of Hull Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue 370, 1 June 1983, Pages 428–429, https://doi.org/10.2307/2232808 Published: 0…
What Still Remains of Kaldor's Laws
How Important is the Spatial Diffusion of Innovations in Explaining Regional Growth Rate Disparities
Economic Growth and Declining Social Welfare
Journal Article Economic Growth and Declining Social Welfare Get access Economic Growth and Declining Social Welfare. By Xenophon Zolotas. (New York: New York University Press, 1981. Pp. xiv + 199. $19.50.) John S. L. McCombie John S. L. McCombie University of Hull Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue 369, 1 March 1983, Pages 246–247, https://doi.org/10.2307/2232198 Publis…
Phases of Capitalist Development
Journal Article Phases of Capitalist Development Get access Phases of Capitalist Development. By ANGUS MADDISON (Oxford: Oxford University Press, 1982. Pp. ix 4- 274. £15.00 hardback, £5.95 paperback.) John S. L. McCombie John S. L. McCombie University of Hull Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue 370, 1 June 1983, Pages 428–429, https://doi.org/10.2307/2232808 Published: 0…
A Synoptic View of Regional Growth and Unemployment: II —The Post-Keynesian Theory
This paper discusses the post-Keynesian explanation of the causes of disparities in regional growth and unemployment rates. It begins by examining the relationship between the real wage rate, the level of demand and regional unemployment. Next, it shows how regional growth is primarily determined by the rate of growth of exports. A two-region model is outlined which demonstrates how regional growth rates are interrelated through interregional tra…
A Synoptic View of Regional Growth and Unemployment: I - The Neoclassical Theory
This paper is the first part of a consideration of the implications of the current controversies in macroeconomics for regional growth theory. It is concerned with the neoclassical explanation of disparities in regional growth and unemployment rates. The one-sector and two-sector neoclassical models are surveyed and it is shown how this approach explains differences in productivity growth in terms of the progressive eradication of an initial misa…
A New View of Economic Growth
Journal Article A New View of Economic Growth Get access A New View of Economic Growth. By MAURICE FITZGERALD SCOTT. (Oxford: Clarendon Press, 1989. Pp. xlix + 592. £50.00 hardback. ISBN 0 19 8286740.) John McCombie John McCombie Downing College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 399, 1 March 1990, Pages 271–274, https://doi.org/10.2307/2233623 Published: 01 …
Are There Laws of Production’: An assessment of the early criticisms of the
This paper traces the development of the Cobb–Douglas production function from its inception in 1927 and critically assesses its early hostile reception. Further econometric evidence is also presented on these issues. Some of the criticisms were easily dealt with, but other more serious ones remained and, although equally relevant today, have been all but forgotten. The original regressions of Cobb and Douglas using time-series data produced some…
On the Rental Price of Capital and the Profit Rate: The Perils and Pitfalls of Total Factor Productivity Growth
This paper considers the implications of the conceptual difference between the rental price of capital, embedded in the neoclassical cost identity (output equals the cost of labor plus the cost of capital), which is used in growth accounting studies; and the accounting profit rate, which can be derived from the National Income and Product Accounts (NIPA). The neoclassical identity is a ‘virtual’ identity in that it depends on a series of assumpti…
Why the data tell us nothing about the importance of increasing returns to scale and externalities to capital
It has long been known that, because of aggregation problems and the Cambridge Capital Theory Controversies, the aggregate production function cannot theoretically exist. Nevertheless, the concept is still widely and uncritically used, presumably because it gives good statistical fits to the data with plausible results. It is shown that this occurs because of the existence of an underlying accounting identity. A suitable mathematical transformati…
No End to the Consensus in Macroeconomic Theory? A Methodological Inquiry
After the acrimonious debates between the New Classical and New Keynesian economists in the 1980s and 1990s, a consensus developed, namely, the New Neoclassical Synthesis. However, the 2007 credit crunch exposed the severe limitations of this approach. This article presents a methodological analysis of the New Neoclassical Synthesis and how the paradigmatic heuristic of the representative agent, namely, market clearing subject to sticky prices, e…
The Aggregate Production Function: ‘Not Even Wrong’
The foundations of the aggregate production function were long ago thrown into doubt by problems of aggregation and the Cambridge capital theory controversies. Yet the aggregate production function, whether in the familiar form of the Cobb-Douglas, the CES, or the translog, continues to be widely used in both theoretical and applied analysis. The reason for its continued use rests on the instrumental position that ‘it works’. The aggregate produc…
Economic Growth and the Balance-Of-Payments Constraint
Exchange Rate, Income Distribution and Technical Change in a Balance-of-Payments Constrained Growth Model
This article develops a formal model that accounts for the net effect of an exchange rate devaluation on the long-term balance-of-payments constrained growth rate. Such a model investigates how a currency devaluation impacts on the home country non-price competitiveness via changes in income distribution and the rate of technological innovation. The model is built upon two plausible hypotheses. First, it is assumed that the rate of technological …
Trade and Regional Development
Early work on trade and regional development drew largely on the pure theory of international trade, notably the theory of comparative advantage and the Heckscher–Ohlin theory. The new economic geography emphasizes the role of increasing returns, broadly defined, and trade (with transport costs) and provides an explanation for the spatial concentration of production. Export‐led growth theory also emphasizes the role of increasing returns to scale…
Brexit and its possible implications for the UK economy and its regions: A post‐Keynesian perspective
Economics (14 works) · Economic Growth and Productivity (9 works) · Macroeconomics (7 works) · Political science (7 works) · Economic theories and models (6 works) · Economic Theory and Policy (6 works) · Keynesian economics (5 works) · Law (5 works) · Law (4 works) · Microeconomics (4 works)