作者：Li, CW
作者单位：University of Glasgow
摘要：One of the most well-known empirical regularities ill the R&D-productivity literature is the existence of substantial under-investment in R&D. This strongly suggests that government should actively promote research activities. However, the so-called 'quality-ladders' models of endogenous technological progress are inconsistent with this observation. III all extreme case, Grossman and Helpman (1991, Ch.4) suggest that R&D should always be taxed irrespective of the size of quality improvement. T...
作者：Mankiw, NG
作者单位：Harvard University
摘要：This paper discusses the short-run tradeoff between inflation and unemployment. Although this tradeoff remains a necessary building block of business cycle theory, economists have yet to provide a completely satisfactory explanation for it. According to the consensus view among central bankers and monetary economists, a contractionary monetary shock raises unemployment, at least temporarily. anti leads to a delayed and gradual fall in inflation. Standard dynamic models of price adjustment, how...
