We analyze the optimal life-cycle education decision of a single atomistic individual and show that the standard result of part-time education and part-time work throughout the life-cycle holds only under very special and unrealistic assumptions. Once these assumptions are relaxed, different...

This paper assesses the impact of the 2008-09 global financial and economic crisis on the medium-term growth prospects of the countries of central and eastern Europe, the Caucasus and Central Asia, which began an economic transition about two decades ago. We use cross-country growth regressions,...

Contents -- CESifo Book Series Foreword -- Preface -- 1 Introduction -- 2 A Structure for Understanding Growth -- 3 Knowledge Capital and Growth -- 4 Causation -- 5 Developing Countries -- 6 Developed Countries -- 7 The Economic Value of Educational Reform -- 8 Policies to Improve Knowledge...

Due to problems with existing methodologies that aim to identify the causal impact of European Union cohesion policy on economic growth, we adopted a novel methodology. We first estimated 'unexplained economic growth' by controlling for the influence of various region-specific factors, and then...

The level and composition of public expenditures and revenues both have implications for economic development, as shown by the 'fiscal multiplier' and the 'quality of public finance' literature. Public finance decisions also influence the distribution of income. Based on a review of the...