This paper searches for a general equilibrium model of optimal growth and endogenous fiscal policy with the aim of …

In this paper we study the link between elections, fiscal policy and economic growth/fluctuations. The set-up is a … dynamic stochastic general equilibrium model of growth and endogenously chosen fiscal policy, in which two political parties … economic growth. The model is estimated using quarterly data for Germany, the UK and the US from 1960 to 1999. Our econometric …

growth regimes. This is shown in an overlapping generations model with two-period lived individuals endowed with Boppart …-Krusell preferences (Boppart and Krusell (2020)). On the supply side, economic growth is due to the expansion of consumption … may fluctuate between two growth regimes, one with and the other without an active research sector. Fluctuations affect …

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … find that a smaller long-run growth rate may be associated with a smaller capital-income ratio. Hence, the key implication … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …

Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the …

We develop an endogenous growth model to quantify how permanent structural policy changes that enhance the fiscal … policy mix, markets' functioning, and public institutions' quality affect long-term growth and welfare. The reforms include … and welfare gains along the transition and balanced growth paths. In contrast, a lower markup in the research sector hurts …

Using a two-sector endogenous growth model, this paper explores how productivity shocks in the goods and human capital … observed variation in these aggregates. We find that while neither of the workhorse growth models uniformly dominates the other … explaining the observed variation in investment and hours. -- endogenous growth ; human capital ; real business cycles ; Bayesian …