We present evidence that an increase in investment as a share of GDP predicts a higher growth rate of output per worker … coefficients. They are robust to model specifications and estimation methods. The evidence that investment has a long-run effect on …

easing entrepreneurial investments for credit-constrained individuals whose investment possibilities depend on their income …

labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and … well. By implication, policies that stimulate investment and R&D and policies that affect the size of the labor force may … is meant to ensure that unemployment is not trended in response to growth in the capital stock, the labor force, or …

documented by Monte Carlo experiments. An empirical application to modelling of real GDP growth and investment-output ratios … dominant effects are found. The results also suggest that increase in investment as a share of GDP predict higher growth rate …

This paper analyzes the interaction between intergenerational wealth transmission, human capital investments under … demonstrates how the role of the personal income distribution for an economy?s process of development through risky human capital … impact of higher inequality on the aggregate human capital stock, and thus, on growth may be positive. This result rests on …

We examine the socially optimal wealth distribution in a two-person two-good model with heterogeneous workers and … other (non-social) individual. We show that the interdependence can effectively counter-act the need to transfer wealth to … social interactions it can be socially desirable to keep substantial wealth inequality. …

continues to absorb more than half of all fixed investment. If capital had been allocated efficiently, China could have achieved … role of rising rates of investment. Because labor reallocation across sectors, TFP growth at the sector level and … investment are all inter-related, simple growth decompositions that are often used in the literature are not appropriate for …

in the U.S. private sector affect economic performance - productivity, profitability, investment, and growth. Freeman and … intangible capital and from firm-specific advantages. Lower profits and the union tax on asset returns leads to reduced … investment and, subsequently, lower employment and productivity growth. There is little evidence that unionization leads to …

This study examines optimal taxation in a unionized economy in which households save capital. The main findings are as … follows. Judd?s (1985) and Chamley?s (1986) classical results of zero taxation on capital income holds. This is true …