This paper is a first attempt to provide a quantitative evaluation of the welfare gains resulting from the introduction of flat income taxation in Bulgaria in 2008. Using a calibrated micro-founded endogenous growth model with physical and human capital accumulation to Bulgarian data, a...

Technological change causes three consequences: it guarantees economic growth, it requires employees to acquire more skills and human capital, and it increases inequality if employees are not capable adapting to new technologies. The second consequence makes it almost necessary for employees to...

In this paper an effort has been made to unveil some hidden and implicit assumptions that has been used in different models dealing with analysis and measurement of contribution of human capital to economic growth. We start from general production function with heterogeneous labor input and...

This paper lays out a replication plan for the influential paper by Klump et al. (Factor Substitution and Factor-augmenting Technical Progress in the United States: a Normalized Supply-side System Approach 2007) on using a normalized CES supply-side system approach to estimate the value of the...

This paper presents an endogenous growth model of migration and technological diffusion with transitional dynamics, which provide explanations for the empirical pattern of the mobility transition. A two-skill group extension of this model offers new hypotheses regarding the skill composition of...

Post-Keynesian macrodynamics is designed to extend the role of demand in the determination of real economic outcomes beyond the short run. The purpose of this paper is to highlight the importance of supply-side considerations in demand-led growth. Building on existing features of the supply side...

This paper examines the impact of education on economic growth in Greece over the period 1981 - 2009 by applying the model with two sectors introduced by Lucas (1988). The findings of the empirical analysis reveal that there is no long-run relation between educational stock and output. In the...

In this paper, we have presented a generalization of Bucci's (2003) model in which have disentangled the monopolistic mark-up in the intermediate goods sector, the intermediate goods share in the final output and the returns to specialization in order to have a better measurement of competition....

This study investigated the impact of infrastructure and human capital development on economic growth in transitional economies. It also explored whether the interaction between infrastructural and human capital development enhanced economic growth in the transitional economies. Although the...

The aim of the paper is to examine the economic growth of 32 European countries from 2005 to 2015. This period was characterized by a strong growth prior to 2009, when the Great Recession started, and lasted until 2012-2013 in the majority of examined countries. The growth between 2005 and 2015...