-off between fiscal discipline and fiscal rule flexibility, as often claimed in the context of the EU's Stability and Growth Pact …

turn looks for engines of sustained growth. We use a micro-founded macroeconomic model calibrated to Greece. Our …

We investigate the relationship between unemployment and growth in China. We find considerable differences in the …

We analyze how the threat of a potential future regime shift affects optimal management. We use a simple general growth …

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal … excessive (greater than first-best) R&D investment and output growth. …

analyzed include public debt, primary and total deficits, nominal and real GDP rates of growth. Long-term analysis of new …

extensions and interest rate reductions, are not generally followed by higher economic growth or improved credit ratings. …

This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth … for a universally applicable threshold effect in the relationship between public debt and economic growth, once we account … negative long-run effects of public debt build-up on output growth. Provided that public debt is on a downward trajectory, a …

This paper investigates the long-run effects of public debt and inflation on economic growth. Our contribution is both … over the 1965-2010 period, we find significant negative long-run effects of public debt and inflation on growth. Our … negative effects on economic growth in the long run. But if the increase is temporary, then there are no long-run growth …