. Optimal policy rules are derived for public services and investment. The other findings are as follows. Monetary policy should …

properties-can be obtained here even with lump-sum taxes. We also examine the welfare implications of public investment policies …

growth. However, local government investment (capital outlay) and the percent of spending devoted to highways both had a …

productivity of investment differs between countries. This paper converts a "new" growth theory regression equation into … neoclassical growth theory, and to identify the major determinants of differences in the productivity of investment using the …A country's growth of output is identically equal to its ratio of investment to output and the productivity of …

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … ; endogenous growth ; knowledge diffusion ; productivity slowdown ; convergence ; divergence …

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … ; Endogenous Growth ; Knowledge Diffusion ; Productivity Slowdown ; Convergence ; Divergence …

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in …

This paper proposes a theory for the evolution of knowledge diffusion and growth over the very long run. A feedback … mechanism between capital accumulation and knowledge spillovers creates a unified growth theory that explains a long epoch of … explain the Great Divergence, the failure of less developed countries to attract capital from abroad, the productivity …