We develop an endogenous growth model to quantify how permanent structural policy changes that enhance the fiscal policy mix, markets' functioning, and public institutions' quality affect long-term growth and welfare. The reforms include increased public investment, reduced market power through...

Was macht das BIP? Wohl und Wehe unserer Republik scheinen von diesem Kürzel abzuhängen: Das Bruttoinlandsprodukt ist die heilige Kuh der herrschenden Ökonomie. Seit Jahren gilt es als der Indikator für Wirtschaftskraft und Wohlstand dabei ist es blind für so vieles, was unser Leben...

This paper estimates income gap ratios and Gini coefficients of poor Americans and combines them with official U.S. government poverty statistics to create a new time series of Sen indices of poverty. The effects of growth and other determinants of aggregate poverty are investigated over the...