This paper investigates the implications of budgetary policies for consumption and economic growth. We present a model … a rise in government debt, financed by lump-sum taxes, increases the share of private consumption to national income and … reduces the long-run growth rate. We also show that a rise in government consumption financed by lump-sum taxes reduces both …

and consumption go down as well. Governments can offset terror by putting tax revenues into the production of security …, at the level of the death toll by about the same size as due to car accidents, is expected to decrease annual consumption …

The Fair Labour Standards Act (FLSA), impose restriction on working hours and the type of jobs held by minors at ages … wages for part-time and full-time employment that depend also on some inherent skill ‘endowment’ and labour market … the labour market (hours worked) and their known (to them) ability and motivation. The labour market (randomly) offers …

natural rate of unemployment. In addition, because of differential inflation across countries, real exchange rates become …

the observed patterns of the fast decrease in unemployment as immigrants first find blue-collar jobs and attend training …This Paper analyses the labour mobility and human capital accumulation of male immigrants who moved from the former … Soviet Union to Israel. We formulate an estimable dynamic choice model for employment and training in blue and white …

We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the … to the failure of political parties to precommit to price stability, in the light of unemployment persistence. Elections … are associated with higher inflation, with the exception of the Thatcher period. There is no evidence that the Labour …

In this paper, we analyse an equilibrium search model with three sources for wage and unemployment differentials among … and unemployment differentials is possible. We show that the structural parameters of the model, including the firm …’s disutility from certain workers, are identifiable using standard labour market survey data. We demonstrate identification using …

recent differential unemployment persistence in our sample of countries: first, sluggishness in labour demand, and second …In this paper we present an investigation of unemployment persistence in Japan, the United States and fourteen European … economies. We concentrate on the sources of slow adjustment in the labour market, such as sluggishness in labour demand and …

We extend the `rational partisan model' of inflation and unemployment by introducing inflation and unemployment … stability. The greater aversion of `socialists' to unemployment results in an inflation rate which is higher by five percentage … points than under the more anti-inflationary `conservatives'. Unemployment seems to be independent of the identity of the …

training: the expected wage. Training might have no direct effect on wage, however, but it affects employment probability in … higher paid jobs nevertheless. In order to measure the return to government provided training, and overcome the above … reservations, we formulate an estimable stochastic dynamic discrete choice model of training and employment. Given the estimated …