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

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 …

main patterns of inequality, between and within the social groupings. We find that the effects of peer pressure on within …-group inequality differ between groups. We also find that wealth and consumption inequality increase within groups who aspire to match … social targets from a higher class, despite a reduction in within-group inequality in hours and earnings. …