Angelopoulos, Konstantinos; Malley, Jim; … - In: Journal of Macroeconomics 33 (2011) 2, pp. 176-192
In this paper, we examine whether policy interventions, aimed at improving resource allocation, also have important stabilization effects over the business cycle. To this end, we employ a dynamic stochastic general equilibrium model in which public education expenditures, financed by distorting...
