. Some implications of the equation are outlined, derived, and proved. The phenomena of counterfeiting, inflation and …, the proceeds of inflation are not actually spendable by the state. Also possible are forms of ``economic warfare'' based …

This paper explores how revenue-neutral tax reforms impact employment and economic growth in a model of endogenous … growth and search frictions on the labor market. We analyze how savings and the incentive to create new jobs are affected by … observe an increase in both growth and, via the capitalization effect, employment. Most other tax reforms, however, imply a …

This paper explores how revenue-neutral tax reforms impact employment and economic growth in models of exogenous and … endogenous growth and search frictions on the labor market. We show that (i) a cut in the payroll tax financed by an increase in … the wage tax lowers both equilibrium employment and the equilibrium growth rate, that (ii) a higher energy tax combined …

The purpose of the paper is to study the effects of labor market policies on the equilibrium rate of growth in the …

the end of this year. This is the fastest growth in the Western Hemisphere for this period, and among the highest growth … rates in the world. It also compares favorably to neighboring economies that are commonly seen as quite successful, such as … Brazil, which has had less than half as much growth over the same period. …

since the Partido Acción Nacional (PAN) party took power nearly 12 years ago; and the longer-term trends of economic growth …

reached its 20-year growth trend. This paper takes a detailed look at the fiscal, monetary, and other economic and social …

This paper examines a model in which growth takes place through investment-specific technological change, which in turn … the growth rate can depend on the degree of substitability between research spending and new capital construction …. Research subsidies tend to have a larger impact on the growth rate than would an investment tax credit of the same magnitude …

In this paper, a modification is made to the endogenous growth model studied by Lucas [1988]. It is shown that if … equilibrium growth rate. Consumption taxation may increase the growth rate. If there is an externality in production of human … capital, then it may be optimal to impose a capital tax, as opposed to a subsidy, to achieve the optimal growth rate. This may …

Venezuela’s current growth is generally described as unsustainable, with various negative scenarios put forth …, including spiraling debt, inflation, and balance of payments crises. However, these pessimistic forecasts have been far off the … could be sustained, or even accelerated. It finds that Venezuela’s current economic growth is sustainable and could continue …