at stake and have to be solved to allow the economy to return to its long-run growth path. …

governance problems must be solved to allow the economy to return to its long-run growth path.ntion paid to it than hitherto. …

Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a … generalised augmented Solow-type growth model, yields some answers to this question. In particular, we show that the impact of … unemployment on productivity growth heavily depends on the influence of human capital in the production function. In the …

Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a … generalised Solow-type growth model yields some answers. In the traditional Solow model, unemployment has no long-run influence on … the growth rate and the level of productivity. The long-run level of productivity is reduced if higher unemployment leads …

of slow productivity growth and high unemployment in industrial countries. We show that introducing nominal price … rigidity helps in reconciling the model's prediction with experience. Faster growth is shown to lead to lower unemployment when … inflation is relatively high, as was the case in the 1970s. In general, the sign of the effect of growth on unemployment is …