Real wage declines have been common in the public sector in many countries over substantial periods of time. In several cases, such wage reductions have coincided with a decline in the efficiency of the public sector. In a simple analytical framework, it is shown that higher wage levels alter...

We explore the role of business services in knowledge accumulation and growth and the determinants of knowledge diffusion including the role of distance. A continuous-time model is estimated on several European countries, Japan, and the United States. Policy simulations illustrate the benefits...

This paper analyses the impact of government tax and subsidy policy on immigration of human capital and the effect of such immigration on growth and incomes. In the context of a two-country endogenous growth model with heterogeneous agents and human capital accumulation, we argue that human...

This paper considers the implications of the prospective aging of the U.S. population for the social security system and concludes that the large and growing cashflow surpluses of the social security trust funds should be saved to help insulate living stands against this change. A number of...

Die Ukraine beantragte die Mitgliedschaft im IMF und der Weltbankgruppe am 19.Dezember 1991. Im Januar 1992 besuchte ein IMF-Expertenteam Kiew, um die künftige Wirtschaftspolitik zu besprechen, die Wirtschaftsstatistiken zusammenzustellen und Vorschläge für Maßnahmen zu unterbreiten. Der...