This paper analyzes growth and welfare effects of income taxation in a stochastic endogenous growth model with … effect on the expected growth rate. Paradoxically, this may induce welfare gains. The opposite results can be derived for a … ascribed to the specific int eraction of consumption and portfolio choice in the determination of growth and welfare. …

This paper analyzes, within a regional growth model, the impact of productive governmental policy and integration on …

In this paper the impacts of income and consumption taxes are analyzed within a model of stochastic endogenous growth … associated with the taxation of stochastic income flows, the growth effect of taxation is ambiguous. There is a continuum of …

endogenous growth model. Individuals take only part of their impact on pollution into account, hence there is a negative … obvious. The time path of pollution as well as the evolution of equilibrium growth are shown to depend crucially on the … environmental education, the economy converges to the sustainable growth path and in the long run, also the optimal level of …

higher growth. Our analysis accommodates costly signaling for gaining credibility and also assigns a novel role to spending …

higher growth. Our analysis accommodates costly signalling for gaining credibility and also assigns a novel role to spending …

sovereign is not a reliable measure of austerity suffered; and that austerity may actually be associated with higher growth. Our …

-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital … politico-economic equilibrium. Growth is driven by capital accumulation and productivity increases fueled by public investment … to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in …