Using data for advanced economies, this paper investigates whether factors identified in the theoretical and empirical literature explain the effectiveness of fiscal policy in responding to recessions. The results are informative about the fiscal response to recessions but provide only a partial...

This book investigates the relation between investment, R&D, and long-run growth. Its first part surveys the literature on R&D-based growth. This survey is supplemented by a number of classifying tables. In its second part, the book goes beyond the models of R&D-based growth by proposing a more...