In this paper we analyze an endogeneous growth model with human capital that results from public educational spending … balanced budget policy and the policy with a slightly growing public debt are equivalent as concerns long-run economic growth …. Further, those two rules yield higher growth than a debt policy where public debt grows at the same rate as GDP, unless the …

In this article we present an endogenous growth model with productive public investment in infrastructure capital … demonstrate that there exists a unique balanced growth path which is a saddle point. Then, we study growth and welfare effects of … fiscal policy along the balanced growth path. In particular, we derive the growth maximizing income tax rate and study how …

This paper presents an endogenous growth model with public capital and public debt. The government finances productive …-temporal budget constraint of the government to be fulfilled. The paper then studies growth and welfare effects of the model assuming … consumption. The analysis is undertaken both for the model on the balanced growth path as well as for the model on the transition …