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Title: New ideas
Review: Most PhD theses don't get reprinted in book form, like this. So it suggests an exceptional quality thesis. Here, Dhawan gives us a sophisticated mathematical modelling of business cycles. And of the productivity difference between large and small firms, as seen in the US.The key idea he offers is how to incorporate the heterogeneous nature of large and small firms into a macroscopic, econometric-style model of a business cycle. Earlier work by others had mostly ignored this effect.His results may not perhaps be conclusive, but they certainly suggest an ingenious and incisive viewpoint. Worthy of further study.
