Public debt has become a severe problem for a great many economies. While the effects of tax policies on the allocation of resources are readily derived, the mechanisms that make public deficits and debt influence the economy are not so easily understood. This book elaborates on the effects of...

In this paper, we aim at re-assessing the undisputed positive relationship between innovation and economic growth by questioning the view that R&D (and formal knowledge in general) equates innovation and innovation equates regional growth. We rather propose that these linkages are strongly...

This paper addresses the link between productivity and labour mobility. The hypothesis tested in the paper is that technology is transmitted across industries through the movement of skilled workers embodying human capital. The embodied knowledge is then diffused within the new environment...

Introduction -- Sustainable Public Debt: Theory and Empirical Evidence -- Debt and Growth: A Basic Endogenous Growth Model -- Productive Government Spending, Public Debt and Growth -- Government Debt and Human Capital Formation -- Debt and Growth: Empirical Evidence -- Conclusion.

Starting point of this book is the observation that an increase in public debt must be accompanied by a rise in the primary surplus of the government to guarantee sustainability of public debt. The book first elaborates on that principle from a theoretical point of view and then tests whether...

Discussion on the possibilities for and barriers to income convergence and catch-up growth is at the heart of the debate on European regional economic policy. This study presents an empirical analysis of the determinants of regional productivity growth in Europe, using the most recent Cambridge...