We revisit the influential economic growth model by Lucas (1988) ["On the mechanics of economic development." Journal of Monetary Economics, 22(1):3-42], assuming that households optimally allocate consumption and education over the life-cycle given an exogenous interest rate and exogenous...

The paper addresses a topical issue - how expansionary fiscal policy affects the debt to GDP ratio. It examines whether the projected future economic growth (stimulated by government spending) is sustained with the resulting national debt. It is discussedif government investment in...

The paper addresses a topical issue – how expansionary fiscal policy affects the debt to GDP ratio. It examines whether the projected future economic growth (stimulated by government spending) is sustained with the resulting national debt. It is discussed if government investment in...

Exploring and explaining development gaps between countries is an important theoretical and empirical task. This paper presents empirical studies related to economic growth and its determinants across countries, based on the use of data envelopment analysis method. It emphasizes the importance...

This study aims to capture the co-movement between political risk and economic growth in Cyprus employing quarterly data over the time period between 1995Q1 and 2018Q4, adopting a wavelet coherence technique allowing to investigate both the short and long run causal link between economic growth...

This paper argues that California s self-help county tax legislation, which funds additional highway spending, amounts to a natural experiment that can be used to construct a valid instrument to determine highway congestion s causal effect on the growth rates of GDP, employment, wages, and...