We calibrate an infinite-horizon model with endogenous growth and unemployment on actual data from the largest … taxes when financed either raising capital taxation or reducing unemployment subsidies. We find two main results: (i) with … lump-sum transfers, reducing labor taxes and unemployment subsidies is beneficial to both employment and growth, while …

associated with inequality adversely affected the emergence of institutions that promote human capital accumulation. The research …

from institutions, and to some extent, geography, on long-run prosperity and TFP, may be thus explained. …

distribution of land ownership, adversely affected the implementation of human capital promoting institutions (e.g., public …

distribution of land ownership, adversely affected the implementation of human capital promoting institutions (e.g., public …

of its detrimental impact on the formation of domestic institutions, such as the security of private property, the …

exercises indicate that recent findings of the conduciveness of good institutions, and, to some extent trade, on levels of TFP …

relationship between unemployment and growth. We distinguish low-skilled and high-skilled labour and assume that a union bargains … over the low-skilled labour wage. This causes unemployment, but the growth e ect is ambiguous. On the one hand the higher …