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that growth can be enhanced by the introduction of pay-as-you-go pensions even if the growth rate of aggregate wages falls … redistributive. This means that if a flat benefit PAYG pension system is in place then the economy will achieve the highest growth …
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explain why presidential democracy leads to faster growth than parliamentary democracy. Third, it is important to distinguish … growth effect of democracy. …
Persistent link: https://www.econbiz.de/10010261420
World integration levels influence opportunity costs of maintaining restrictive national trade policies. In an integrated world, restrictive trade policies are more costly than in a context of low overall levels of world market integration. We argue that policy makers can be expected to react to...
Persistent link: https://www.econbiz.de/10013056368
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