One of the key issues in economics is the explanation of unemployment and its variation across different economies. Modern mainstream macroeconomics refers to the effects of financial crises and to institutional structures and their variation across countries. However, unemployment within the...

In this paper, we examine the experiences of the Korean economy alongside theoretical knowledge of economic development and structural change. To demonstrate the generalized hypotheses on structural change, input-output tables of Korea, from 1960 to 2010, were analyzed. Our interest in taking...

In den meisten europäischen Ländern ist seit längerem ein erheblicher Rückgang der Industriebeschäftigung vor allem zugunsten wissensintensiver Dienstleistungen zu beobachten. Diese Entwicklung entspricht den theoretischen Erwartungen, dass Spezialisierungsmuster zunehmend funktional und...

Can a growing welfare state induce a regime switch in the growth rate of an economy? This paper constructs a dynamic political economy model of economic growth and the welfare state in which both variables are non-linearly related and jointly endogenous. Using a Markov switching framework over...