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Secular Stagnation, Rational Bubbles, and Fiscal Policy

Teulings, Coen N. - 2016

It is well known that rational bubbles can be sustained in balanced growth path of a deterministic economy when the return to capital r is equal to the growth rate g. When there is a lack of stores of value, bubbles can implement an efficient allocation. This paper considers a world where r...

Persistent link: https://www.econbiz.de/10012981968

Education, Growth, and Redistribution in the Presence of Capital Flight

Chakrabarty, Debajyoti - 2006

The conventional wisdom in the literature on capital controls and growth argues that capital controls increase the ability of a government to tax capitalists which proves detrimental for growth. To address this issue, we construct an OLG model to study the effect of capital controls on human...

Persistent link: https://www.econbiz.de/10012733717

The political economy of redistribution and (in) efficiency in Latin America and The Caribbean

Altube, Matias Guizzo; Scartascini, Carlos G.; Tommasi, … - 2023

“the rich are powerful and they dont like taxes, hence we have little taxation and little redistribution.” That is a good … taxation and non-negligible redistributive efforts. But in some of those cases such redistribution comes hand in hand with … outcomes (including the degree of redistribution and others). We postulate that each configuration of social outcomes emerges …

Persistent link: https://www.econbiz.de/10014546295

Income inequality, fertility, human capital accumulation and economic growth in Mexico

Charles-Coll, Jorge; Mayer Granados, Elizabeth; Garza … - In: Research in world economy 6 (2015) 1, pp. 172-183

Persistent link: https://www.econbiz.de/10011415617

Federalism, Taxation, and Economic Growth

Hatfield, John William - 2006

We show that federalism will lead to higher economic growth. We present a model of endogenous growth where government services, funded by income and capital taxes, are a component of production. In this model a decentralized government will choose tax policy to maximize economic growth, while a...

Persistent link: https://www.econbiz.de/10012734002

Fiscal federalism in Nigeria : implication for growth

Onwioduokit, Emmanuel Ating; Esu, Godwin Essang - In: West African journal of monetary and economic integration 18 (2018) 2, pp. 70-95

Nigeria has been a federation before 1963. This was expected to foster speedy growth and development, but military interferences seem to have bedevil this dream. However, an uninterrupted democracy for about 20 years should have produced a significant result, but not much has changed. Many have...

Persistent link: https://www.econbiz.de/10013348422

The Deficit Gamble

Ball, Laurence M.; Elmendorf, Douglas W.; Mankiw, … - 1998

The historical behavior of interest rates and growth rates in U.S. data suggests that the government can, with a high probability, run temporary budget deficits and then roll over the resulting government debt forever. The purpose of this paper is to document this finding and to examine its...

Persistent link: https://www.econbiz.de/10014220648

Education versus infrastructure: is there a trade-off in an open economy with perfect capital mobility?

Konopczyński, Michał - In: Contemporary economics 18 (2024) 3, pp. 280-300

We present an open economy growth model incorporating various elements of fiscal policy, including government expenditure on education and public capital (infrastructure), budget deficit, internal and external public debt, public consumption, and four tax rates. This detailed description of...

Persistent link: https://www.econbiz.de/10015189601

Ageing, government budgets, retirement, and growth

Gonzalez-Eiras, Martín; Niepelt, Dirk - 2011

We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through...

Persistent link: https://www.econbiz.de/10009300343

Ageing, government budgets, retirement, and growth

Gonzalez-Eiras, Martín; Niepelt, Dirk - 2011

Persistent link: https://www.econbiz.de/10009010051