’s theory of functional finance (FF). A thorough discussion of this concept is helpful in reconsidering the debate on the nature … growth, deflation, and weak public finances. …

Recent evidence on the impact of fiscal policy – taxes, public expenditures and budget deficits – on long-run growth in …, and ‘distortionary' and ‘non-distortionary' taxes. Using estimated long-run growth effects from these fiscal variables …, this paper simulates the effects on growth rates of observed fiscal policy changes in the EU. With two exceptions, the …

This paper considers an endogenous growth model with productive government spending in which overlapping generations of …, removing all inefficiencies and cycles. However, a likely outcome is that government size is too high relative to the growth …