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Public Infrastructure Investment, Output Dynamics, and Balanced Budget Fiscal Rules
Duarte Bom, P.R.; Ligthart, J.E. - Tilburg University, Center for Economic Research - 2011
We study the dynamic output and welfare effects of public infrastructure investment under a balanced budget fiscal rule, using an overlapping generations model of a small open economy. The government finances public investment by employing distortionary labor taxes. We find a negative short-run...
Persistent link: https://www.econbiz.de/10011090750
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Output Dynamics, Technology, and Public Investment
Duarte Bom, P.R.; Heijdra, B.J.; Ligthart, J.E. - Tilburg University, Center for Economic Research - 2010
The paper studies the dynamic output effects of public infrastructure investment in a small open economy. We develop an overlapping generations model that includes a production externality of public capital and a wealth effect on labor supply. Public capital enters the firm's production function...
Persistent link: https://www.econbiz.de/10011090760
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Deutsche Innovationsregionen
Eckey, Hans-Friedrich; Türck, Matthias - 2005
Mit der fortschreitenden Ausrichtung der Regionalpolitik auf innovative Netzwerke gewinnt die Abgrenzung von Innovationsregionen - Regionen, die die Informationsverflechtungen im Raum widerspiegeln - an Bedeutung. Die räumlich-ökonometrische Schätzung einer aus der endogenen Wachstumstheorie...
Persistent link: https://www.econbiz.de/10010263278
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Regional Systems of Innovation and Regional Policy in Europe
Korres, G.; Chionis, D.P.; Staikouras, C. - In: Regional and Sectoral Economic Studies 4 (2004) 1
European integration leads to convergence as well as divergence between the countries included in the integration … process. For example, increased technological spillovers lead to convergence of the production processes used in the EU … European member states, and also it’s attempting to analyze the empirical patterns of convergence and divergence. Our aim is to …
Persistent link: https://www.econbiz.de/10005607447
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Fiscal and Monetary Policy in an Endogenous Growth Model with Public Capital
Tamai, Toshiki - In: FinanzArchiv: Public Finance Analysis 64 (2008) 4, pp. 403-421
This paper develops an endogenous growth model in which the government finances its public investment using both income taxation and seigniorage. Arguments presented in this paper show that public investment financed by seigniorage gradually pulls up the growth rate of consumption and overshoots...
Persistent link: https://www.econbiz.de/10005823480
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Public Policies, Innovation and Convergence
Santos, Eleonora; Khan, Shahed - 2018
, we suggest that the convergence based on the productivity, can be assisted by a reinforcement of supply-side measures …
Persistent link: https://www.econbiz.de/10011918273
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Are We Going to Have Deflation and Current Account Surpluses? [Vom avea deflaţie şi surplusuri de cont curent?]
Lucian, Croitoru - In: Revista OEconomica (2013) 02
In this study we show that the inflation rate and the current account behaved according to historical regularities, once the international crisis hit Romania in the second half of 2008. Inflation has decreased relatively fast for a long period of time, and the current account deficit has reduced...
Persistent link: https://www.econbiz.de/10010965610
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Monetary and Fiscal Policy Interactions in an Emerging Open Economy: a Non-Ricardian DSGE Approach
Algozhina, Aliya - FIW - 2012
The monetary and fiscal policy interactions have gained a new research interest after the 2008 crisis due to the global increase of fiscal debt. This paper constructs a macroeconomic model of joint fiscal and monetary policy for an emerging open economy taking into account its structural...
Persistent link: https://www.econbiz.de/10010856781
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Vision Versus Prudence: Government Debt Financing of Investment
Freebairn, John; Corden, Max - Melbourne Institute of Applied Economic and Social … - 2013
This article explores the arguments for and against the use of government debt to finance large-scale public investments. Relative to the options of higher taxation or lower other expenditures, debt finance means that both the costs and the benefits of the investment fall on future generations....
Persistent link: https://www.econbiz.de/10010858809
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Improving the Fiscal Framework to Enhance Growth in an Era of Fiscal Consolidation in Slovakia
Klein, Caroline; Price, Robert W.R.; Wörgötter, Andreas - Economics Department, Organisation de Coopération et … - 2013
The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently...
Persistent link: https://www.econbiz.de/10011277021