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 …

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 …

Employing an endogenous growth model with human capital, this paper explores how productivity shocks in the goods and …. Given the importance of accounting for both the dynamics and the trends in the data not captured by the theoretical growth … the endogenous growth model or the standard real business cycle model better explains the observed variation in these …

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. …