Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a … generalised augmented Solow-type growth model, yields some answers to this question. In particular, we show that the impact of … unemployment on productivity growth heavily depends on the influence of human capital in the production function. In the …

investment might have restricted private investment and GDP growth in the euro area. The results have strong implications for the …This paper explores the long run relationship between public and private investment in the euro area in terms of … capital stocks and gross investment flows. Panel techniques ac-counting for international spillovers are employed. While …

domains can also promote economic growth. This paper argues for the importance of human development related investments based … on i) a theoretical economic growth model with poverty traps, ii) a literature review of evidence that different human … development related investments can promote growth, and iii) own empirical analyses that aim at estimating the relative …

We construct an endogenous growth model that includes a cultural variable along the dimension of individualism … innovation in an individualist culture. This cultural effect may offset the negative effects of bad institutions on growth … individualism on growth through innovation. Using genetic data as instruments for culture we provide strong evidence of a causal …

This paper considers a class of growth models with idiosyncratic human capital risk and private information about … logarithmic over consumption. Human capital investment is risky due to idiosyncratic shocks that follow a Markov process with … the sense that individual effort levels and individual consumption growth rates are history-independent. Further …

machine learning, we analyze how neo-Schumpeterian growth theorists relate to the entrepreneur-centered view of Schumpeter …

1996 to 2017. To this purpose, we estimate growth equations, which are directly derived from a neoclassical growth model … fail to find any role of human capital for regional economic growth, we find that interregional migration and … interdependencies of the growth experience of Russian regions contribute to economic convergence between them …

growth in market and home production. We focus on the substitutions between market and home production and on the structural … services without violating balanced aggregate growth. We find support for the model's predictions in long-run US data …

; the relation between income growth and income and fertility distributions; and the relevance of human capital in … determining the skill distribution of immigrants in a balanced-growth global equilibrium setting. In all three illustrations …

relationship between education and economic growth that has been found in the empirical macroeconomic literature. Conversely, for a …