A Pardigm for Economic Growth in the 21st Century

Ordean Olson

A Pardigm for Economic Growth in the 21st Century

Ordean Olson *

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A Pardigm for Economic Growth in the 21st Century

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Abstract

This study presents a paradigm for determining economic equilibrium in economic systems. The economic disequilibria curve is introduced and shows the robust correlation between productivity and exchange rates and plots the optimal rate of economic growth and interest rates along the economic disequilibria curve. This study examines the evidence for a productivity based model of the dollar/euro real exchange rate. Cointegrating relationships between the real exchange rate and productivity, real price of oil and government spending are estimated using the Johansen and Stock-Watson procedures. The findings show that for each percentage point in the US-Euro productivity differential there is a three point change in the real dollar/euro valuation. These findings are robust to the estimation methodology, the variables included in the regression, and the sample period.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Ordean Olson. 2017. "A Pardigm for Economic Growth in the 21st Century". Global Journal of Human-Social Science, Global Journal of Human-Social Science - E: Economics GJHSS-E Volume 17 (GJHSS Volume 17 Issue E3).

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GJHSS Volume 17 Issue E3

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Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

Keywords

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Classification

GJHSS-E Classification FOR Code: 910103

Submission ReceivedDecember 9, 2016
Peer Review Double Blind
Handling Editor
Accepted January 3, 2017
Published January 15, 2017

Version of record

v1.2

Issue date

August 14, 2017

Language

English

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Article Matrices

Total Score: 131

Country: United States

Subject: Global Journal of Human-Social Science

Authors: Ordean Olson (PhD/Dr. count: 0)

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Publish Date: 2017 01, Sun

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