We derive the quantitative implications of reducing sustained budget deficits (labeled fiscal stabilizations) in the context of a general equilibrium model of innovation-led growth. In the model, innovation comes from entrant firms creating new products and incumbent firms improving own existing...

The state budget for public higher education in Louisiana was reduced 55 percent from 2008-2016. Colleges in the state decreased payrolls, eliminated or consolidated 387 degree programs, and dramatically shifted the burden of paying for college from the state to individuals and families through...

The paper examines public expenditures and their effects on economic growth. For that purpose we choose four categories of expenditures, defence, infrastructure, human capital and R & D expenditures. Behind these expenditures stands, in socio-political consideration, a certain notion of the...

This paper analyzes the effectiveness of public expenditures on economic growth within the analytical framework of comprehensive Neo-Schumpeterian economics. Using a fixed-effects model for G20 countries, the paper investigates the links between the specific categories of public expenditures and...