This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor force. Using Solow growth and endogenous growth...

This paper provides a critique of the "unemployment invariance hypothesis," according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor force. Using Solow growth and endogenous growth...

This paper provides a new picture of how countries have responded to the COVID-19 pandemic by examining the effects of the pandemic in terms of normative foundations for societal wellbeing. Social prosperity depends primarily on the functioning of four domains: the economy, the state, civil...