Measures of institutional quality are strong predictors of cross-country differences in income and productivity. The institutional economics literature has long maintained that one way institutions influence economic growth is by impacting the efficient allocation of production factors across...

This paper examines whether the productivity growth in the West-German states is influenced by the provision of public infrastructure. Medium-term labour productivity growth and output growth varies a lot between German states. This differences are more pronounced during the eighties. The...

This paper analyses an open economy Ramsey model with an endogenous labour supply without capital. The technology defines an optimal firm size. Changes to the number of firms is subject to adjustment costs, so that the entry dynamics is determined endogenously. We find that there is a short run...

This paper examines whether the productivity growth in the West-German states is influenced by the provision of public infrastructure. Medium-term labour productivity growth and output growth varies a lot between German states. This differences are more pronounced during the eighties. The...

This paper addresses arguments that a system of fiscal insurance between member states of the European Union is needed to act in replacement of nominal exchange rate flexibility as an automatic stabilizer under monetary union. Many authors have argued or assumed that asymmetric real...

This paper addresses arguments that a system of fiscal insurance between member states of the European Union is needed to act in replacement of nominal exchange rate flexibility as an automatic stabilizer under monetary union. Many authors have argued or assumed that asymmetric real...

Productivity growth has flat-lined in most economies despite rapid advances in technology. Economists suggest competing explanations for this paradox. Some argue the current stagnation will persist given deep structural challenges, arguing that recent technological advances are no match for...

This paper investigates the impact of country-specific and the global government primary balance and productivity shocks on current account balances and investment using an intertemporal model in selected OECD countries for the period 1995-2016. By employing a fixed effect approach, results...

This paper looks at productivity growth rates in Malta and Cyprus and proposes policies as to how these island states countries might augment their productivity and competitiveness. We identify three possible growth strategies for the islands: an Innovation-Oriented Economy, a Controlled...

The economic performance of Uruguay in the last fifty years has been disappointing. Annual growth in labor productivity has been lower than the rest of the Latin American economies and well below that East Asian and OECD countries. Out of the 0.9% of annual growth in productivity, total factor...