Posch, Olaf; Wälde, Klaus - Department of Economics, Adam Smith Business School - 2006
Cyclical components are analytically computed in a theoretical model of stochastic endogenous fluctuations and growth …. With endogenous fluctuations and growth, decentralized factor allocation is inefficient and (time-invariant) taxes can (de … model, decentralized factor
allocation is efficient. With endogenous fluctuations and growth, decentralized
factor allocation …