Recent empirical studies on the inflation-growth-relationship underline that inflation has negative growth effects … already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining … influence of inflation on factor substitution. It turns out that already in a simple neoclassical monetary growth model this …

This paper presents a two period overlapping generations model with endogenous growth in the presence of a public … growth of the economy. In addition the transitional process towards fiscal targets critically depends on the adjustment tool …

This paper investigates fiscal sustainability in an overlapping generations economy with endogenous growth coming from … outlook for economic growth, thereby providing a rationale for fiscal rules ensuring sustainability. Our results show that the … (change in the population growth rate) under different fiscal policy scenarios. …

of equipment and software grow on average 3 percentage points faster annually - a doubling of their growth rates. Quality …-adjusted output grows 0.46 percentage points faster annually - a 20 percent increase. In terms of growth accounting, quality … adjustment subtracts 11 percentage points from the share of TFP in aggregate growth and adds them to the share of equipment stock …

This paper analyses the impact of productivity developments in the United States and the euro area on the euro …-dollar exchange rate. The paper presents a new measure of relative average labour productivity (ALP), which does not suffer from the … productivity proxies. Our results indicate that the extent to which productivity can explain the euro depreciation varies with the …

The number of variables related to long-run economic growth is large compared with the number of countries. Bayesian … model averaging is often used to impose parsimony in the cross-country growth regression. The underlying prior is that many …. The positive relationship between measures of trade openness and growth is much stronger than found in the literature. …