This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark "Phelps volume," Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic analysis....

This paper explores the effects of several cultural values, attitudes, and the like, on some of the main dimensions of economic performance. It shows a weak correlation between continental countries' relative endowment of some cultural attributes and the relative performance of their national...

This paper examines the consequences of capital and labour subsidies for employment, capital formation and other macroeconomic variables within an OLG small open economy model of wealth accumulation. Two cases, the neoclassical-equilibrium one and the modern-equilibrium one, have been analysed....

It seems to be taken for granted by many commentators that the sharp decline in prices of computers, telecommunications equipment and software resulting from the technological improvements in the information and communications technology (ICT)-producing sector is good for jobs and is a major...

This paper studies two kind of wage subsidy in a model of the natural rate having a continuum of workers ranked by their productivity-a flat wage subsidy and a graduated wage subsidy, each program financed by a proportional payroll tax. We show that in the model's small open economy version,...