In this paper, we compare growth and welfare effects of various budget rules within an endogenous growth model with … affect the long run growth rate compared to a balanced budget while the growth rate is increased by a golden rule. Welfare … consumption should adhere to a balanced budget rather than a golden rule or a fixed deficit rule from a welfare point of view. …

such a net brain gain results in an increase in welfare and growth due to education's positive externalities. This paper …) the impact on welfare and growth is smaller as well (for any brain gain size); iii) a positive brain gain is likely to … the stock of human capital may have a negative impact on welfare and growth; and v) in a dynamic framework, the paper …

switch to private provision welfare improving for all agents including public employees. …

This paper examines how revenues from a natural resource interact with growth and welfare in an overlapping generations … abundance of the revenue. Abundant revenues may harm growth, but growth and welfare can be oppositely affected. We also provide …