The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In contrast, this paper explicitly deals with the long-run...

We discuss the sustainability of Chinese high growth relative to growth experience elsewhere, and specifically Soviet Russia in the 1950s to the 1960s by asking if the aggregate technology can eventually similarly constrain high growth performance in the Chinese case as argued by Weitzman in a...

Output growth, investment and the real interest rate are all found empirically to be negatively affected by inflation. But a seeming puzzle arises of opposite Tobin-like inflation effects because theory indicates a negative Tobin effect when investment falls and a positive Tobin effect when the...

Der vorliegende Beitrag untersucht die Effekte unterschiedlicher Besteuerungssysteme (Ein-kommensteuer versus Konsumsteuer) auf die gleichgewichtige Kapitalintensität sowie das Wirt-schaftswachstum in einer Welt mit unsicherer Lebenserwartung. Dabei wird ein Modell mit über-lappenden...