Papageorgiou, Dimitris - In: Economics Bulletin 31 (2011) 3, pp. 2629-2640
social welfare in the Greek economy. The setup is a neoclassical growth model augmented with a public sector. The government … significant effects on key macroeconomic variables, as well as on social welfare. When financed by distorting taxes, increases in … government consumption hurt both output and welfare. To the contrary, a rise in public investment, when financed by consumption …