Replication of two recent studies of growth determinants shows that results are sensitive to the choice of data from which growth rates are calculated, especially with respect to whether economic convergence has occurred. Previous warnings against using data that has been adjusted to increase...

Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...

Results of numerous cross-country growth regressions have been found to be sensitive to specification, time period or sample coverage. Several authors have observed that results may depend on the source and data collection methods for right-hand side variables. In this paper we suggest that a...

The paper deals with the application of Minimum Weighted Residual Methods (MWR) in intertemporal optimizing models of endogenous economic growth. In the 1st part of the paper the basics of the MWR method are described. Attention is mainly concentrated on one special class of MWR methods: the...

Countries rich in natural resources constitute both growth losers and growth winners. We claim that the main reason for these diverging experiences is differences in the quality of institutions. More natural resources push aggregate income down, when institutions are grabber friendly, while more...

This paper hypothesizes that the demise of the 19th century's European class structure reflects a deliberate transformation of society orchestrated by the capitalists. Contrary to conventional wisdom, it argues that the demise of this class structure was an outcome of a cooperative, rather than...

This paper provides a statistical summary of aggregate economic growth in Taiwan and mainland China using the standard national income accounting framework by decomposing aggregate growth into components due to growths in capital, labor and total factor productivity. For Taiwan, new series of...

This paper extends the seminal creative destruction growth model of Aghion/Howitt (1992) to investigate the relationship between unemployment and growth. We distinguish low-skilled and high-skilled labour and assume that a union bargains over the low-skilled labour wage. This causes...

We calibrate an infinite-horizon model with endogenous growth and unemployment on actual data from the largest countries in the European Union. Two types of balanced-budget fiscal policy experiments are studied. First, the effects of separately changing the tax rates on capital, labor and...

The paper develops a Romer-type growth model with a research sector, a manufacturing sector, and a financial sector and shows that inflation has an adverse effect on economic growth. Higher inflation increases the incentives for agents to use money substitutes through financial services in an...