Introduction ................................................................................................................................. 104 The model and data ................................................................................................................... 106 Estimation results ...............................................................................................

The paper combines Baumol’s model of structural change with a model of aggregate demand growth in the Keynesian–Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with – and Baumol’s model for the productivity regime is calibrated on – OECD data. The trajectory for employment predicted by the combination of the two models tracks the...

This Report examines the state of competition policy in Denmark in 2004. It focuses particular attention on developments since the 1999 " Report on the Role of Competition Policy in Regulatory Reform " , prepared as part of a larger OECD study of regulatory reform in Denmark.

We find new empirical regularities in the business cycle in a cross-country panel of 22 OECD countries for the period 1972 to 2007; entrepreneurship Granger-causes the cycles of the world economy. Furthermore, the entrepreneurial cycle is positively affected by the national unemployment cycle. We discuss possible causes and implications of these findings.