Using data for 24 OECD economies from 1961 to 1997 we investigate whether the empirical relationship between business cycle volatility and long-run growth is positive, as Blackburn (1999) suggests, or negative, the view of the UK and other governments. The existing empirical literature is...

In this paper the likely development of aggregate living standards in the United Kingdom over the course of this century are considered, and some of the risks to this outlook. It is argued that even under relatively cautious assumptions about technological progress and capital accumulation,...