Alonso-Carrera, Jaime; Freire-Serén, María Jesús - Departamento de Economía Aplicada, Facultade de … - 2002
This paper shows that in a three-sector model of endogenous growth with physical and human capital accumulation, taxation policy can generate indeterminacy under plausible parameterizations. The key for this result is that the accumulation of human capital is a non-market activity in which...