Macroeconomics, Growth and History Centre (MaGHiC)
About the Centre
The Macroeconomics, Growth and History Centre (MaGHiC) is the focal point for macroeconomic research, events and PhD training at the University of Kent. The research interests of the group span macroeconomic theory, empirical macroeconomics, macroeconometrics and the macroeconomic analysis of historical data. The Centre has strengths in growth, structural change, computational economics, firm dynamics and macroeconomic history.
Researchers within the Centre have published articles in leading international journals including the American Economic Review, the Review of Economic Studies, the Journal of The European Economic Association, the Economic Journal, the American Economic Journal: Macroeconomics, the Review of Economic Dynamics, the Journal of Econometrics and many others.
Appropriate technology and balanced growth
26 January 2017
In macroeconomics, we typically model production by specifying a 'production function,' which tells us how much output is produced with given quantities of the 'factors of production,' often taken simply as capital and labour. Factor shares refer to the proportion of the income earned by production that goes to each factor, so the labour share is the proportion of this income that is earned by workers through supplying labour. There are v...