Golden Rule Fiscal Policy

In order to treat the problem of optimal growth of an aggregative economy, the goverment is introduced into the neo-classical growth model. The properties of the government's dynamic budget constraint are analyzed. Hence different kinds of government's policy requirements are taken into account Especially the effects of public investment are examined. A condition for dynamic stability is considered.

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Year of publication:	1993
Authors:	Wenzel, Heinz-Dieter ; Wrede, Matthias
Published in:	Swiss Journal of Economics and Statistics (SJES). - Schweizerische Gesellschaft für Volkswirtschaft und Statistik / Société Suisse d"Économie et de Statistique - SGVS/SSES, ISSN 0303-9692. - Vol. 129.1993, II, p. 123-150
Publisher:	Schweizerische Gesellschaft für Volkswirtschaft und Statistik / Société Suisse d"Économie et de Statistique - SGVS/SSES

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004988608