One important aspect of the resulting indebtedness in full-fledged market economies is the mutual influence between different economic sectors. Therefore, alongside the government indebtedness, one must take into account also the debts of private agents, especially of households and...

One important aspect of the resulting indebtedness in full-fledged market economies is the mutual influence between different economic sectors. Therefore, alongside the government indebtedness, one must take into account also the debts of private agents, especially of households and...

This paper adds to the literature on tax policy and economic growth by examining the effects of tax cuts on labor and capital within an endogenous growth model with public capital and elastic labor supply. The impact of tax cuts on growth rates and government revenues is shown to vary...

The U.S. economy is growing more slowly than it can and should be growing because it does not invest enough in infrastructure, science, and education. There is an important procedural obstacle to funding public investments — a process of scoring the economic effect of legislation. This process...

This paper looks at the history of money and its modern form from a scientific and mathematical point of view. The approach here is to emphasize simplicity. A straightforward model and algebraic formula for a large economy analogous to the ideal gas law of thermodynamics is proposed. It may be...

Through a continuous reform of its fiscal system (especially the tax system), the Republic of Croatia has harmonized them with those of EU countries, in keeping with European integration processes and the intention to become a full EU member. Certain differences are still in place (tax rates,...

The growth rate of real GDP per capita is modelled and predicted at various time horizons for France, Germany, New Zealand, and the United Kingdom. The rate of growth is represented by a sum of two components - a monotonically decreasing trend and fluctuations related to the change in...

Government regulation is a double-edged sword. By restricting the inputs—capital, labor, technology, and more—that can be used in the production process, regulation shapes the economy and, by extension, living standards today and in the future. Applied effectively, regulation can foster a...

This paper aims to provide a theoretical explanation for understanding the cross-country disparity of long-run economic growth rates based on the diversity in the initial conditions. In particular, it argues that the disparity in the inequality of human capital and income, as well as the...