A common perception about the neoclassical growth model is that an economy devoid of capital cannot evolve to strictly positive levels of output if capital is essential. We challenge this view by positing a broad class of production functions, encompassing the neoclassical production function,...

A trade union whose purpose is to raise wages above the competitive level may foster economic growth if it succeeds in shifting income away from the owners of capital to the workers and if the workers' marginal propensity to save exceeds the one of capitalists. We make this point in an...

The determinants of the direction of technical change and the implications for economic growth are studied in the one-sector neoclassical growth model of Ramsey (1928), Cass (1965), and Koopmans (1965) extended to allow for endogenous capital- and labor-augmenting technical change. For this...

Von dem vierten Gesetz für moderne Dienstleistungen am Arbeitsmarkt (Hartz IV), das mit dem 1. Januar 2005 in Kraft trat, erhoffte sich der Gesetzgeber eine Stärkung der Anreize, Arbeit anzubieten. Dieser Aufsatz analysiert die Beschäftigungswirkungen einer Senkung staatlicher...