This paper analyzes the growth and employment effects of dynamic fiscal policies in an overlapping generations model with endogenous growth and imperfect labour markets. With balanced-budget policies, the modelled closed economy grows at a constant rate which is the higher, the lower are the...

Die EWU hat mittlerweile drei Jahre gute Erfahrungen mit einer gemeinsamen Geldpolitik gemacht. Die Finanzpolitik in nationaler Regie steht demgegenüber vor allem im konjunkturellen Abschwung in der Kritik. Welchen kurzfristigen konjunkturpolitischen und langfristigen konsolidierungspolitischen...

This paper analyzes the growth and employment effects of dynamic fiscal policies in an overlapping generations model with endogenous growth and imperfect labour markets. With balanced-budget policies, the modelled closed economy grows at a constant rate which is the higher, the lower are the...