This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance … seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …

We analyze how the threat of a potential future regime shift affects optimal management. We use a simple general growth …

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal … excessive (greater than first-best) R&D investment and output growth. …

We investigate the relationship between unemployment and growth in China. We find considerable differences in the …

This paper investigates the long-run effects of public debt and inflation on economic growth. Our contribution is both … over the 1965-2010 period, we find significant negative long-run effects of public debt and inflation on growth. Our … negative effects on economic growth in the long run. But if the increase is temporary, then there are no long-run growth …

analytic solutions for optimal policy. The variables in our reduced-form model – growth, unemployment, primary surplus – have a … rule demands an immediate and large policy response that is procyclical to growth shocks and countercyclical to … currently followed by policy makers responds procyclically to both growth and unemployment shocks, and does so much slower than …

. The FPC has small resources and a broad remit including employment, growth, income distribution and monitoring of how well …