This paper looks at changes in the distribution of unemployment across education groups in Canada, France, Germany, Italy, the UK and the US. The rate of unemployment among the less educated is higher than among those with more education in all the countries, with the exception of Italy....

We determine the effects of a delayed or immediate tax cut with or without a "sunset" feature in a real customer-market, nonRicardian economy. Our model incorporates both the supply-sider channel as well as the Feldstein-Rubin-Summers channel. We show that a tax cut may depress both the real...

We study here the effects of future tax and budgetary shocks on present levels of economic activity and real interest rates in a nonmonetary and possibly non-Ricardian economy. The paper first takes up an (unanticipated) temporary tax cut to be effective on a given future date " a delayed "debt...

The paper begins with a consideration of the hypothesis that public sector employment is a means to reduce the general unemployment rate. It then takes up the proposition that subsidizing domestic investment is an effective way to reduce unemployment. The rest of the paper addresses some of the...

In what has been called the "classical" fiscal system, corporate profits are subject to heavy taxation on the ground that they can be siphoned off to the government without giving rise to costly disincentives. Corporations in turn minimize their profits tax liability for the benefit of their...

Economists disagree on what ails the economies of continental western Europe, which are widely perceived to be underperforming in terms of productivity and other metrics. Is it some deficiency in their economic system--in economic institutions or cultural attitudes? Is it some effect of their...

This book offers an excellent survey of various macroeconomic topics which feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of modern macroeconomic approaches by a...