It seems to be taken for granted by many commentators that the sharp decline in prices of computers, telecommunications equipment and software resulting from the technological improvements in the information and communications technology (ICT)-producing sector is good for jobs and is a major...

What forces have shaped our nation’s employment and remuneration record so far? Where is Singapore’s unemployment rate headed? What should policy-makers do about it? These are the questions tackled in this paper. It is shown that based on our historical experience, it would be necessary to...

Without net immigration, the population size is projected to decline from 2025 on- ward. Does it matter? To answer this question, the paper proceeds in two main parts. In the first part, taking a citizen's utility as a measure of welfare, we identify the channels through which a larger...

It seems to be taken for granted by many commentators that the sharp decline in prices of computers, telecommunications equipment and software resulting from the technological improvements in the information and communications technology (ICT)-producing sector is good for jobs and is a major...

This paper studies two kind of wage subsidy in a model of the natural rate having a continuum of workers ranked by their productivity-a flat wage subsidy and a graduated wage subsidy, each program financed by a proportional payroll tax. We show that in the model's small open economy version,...

We estimate the relationship between investment and unemployment over the time period 1960-2015 in 20 OECD countries. While neoclassical growth theory typically assumes full employment – with no effect of investment on unemployment – we find that over our sample period covering more than...

Is there a theoretical basis for the view that the end of a period of over-investment necessarily leads to a period of below-normal employment as the excess capital stock is run down? We study the repercussions of a false boom in housing driven by prior expectations of future housing prices not...

It seems to be taken for granted by many commentators that the sharp decline in prices of computers, telecommunications equipment and software resulting from the technological improvements in the information and communications technology (ICT)-producing sector is good for jobs and is a major...

In this paper, we take another approach to accounting for the sources of Singapore's economic growth by being explicit about the channels through which Singapore, as a technological follower, benefits from international Ramp;D spillovers. Taking into account the channels through which technology...