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Fiscal Policy, Public Capital and Economic Growth
Altar, Moisa - 2008
The effect of public investment on economic growth is a crucial public policy issue. Empirical research into this question was stimulated by Aschauer (1989), who suggested that public capital has a powerful impact on the productivity of private capital.Aschauer's results were controversial and...
Persistent link: https://www.econbiz.de/10012725171
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The Influence of Fiscal Policy on Economic Growth
Altar, Moisa - 2008
In this paper we analyze the influence of several types of fiscal policies on the process of economic growth, namely on the rate of growth of consumption.We formulate and analyze two types of economic growth models. The first refers to the way in which a consumer-producer agent takes decisions...
Persistent link: https://www.econbiz.de/10012725172
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Fiscal and Monetary Policies and Economic Growth
Altar, Moisa - 2008
The paper analyses the way in which monetary and fiscal policy influences the performances of economic growth. The analysis is made on the basis of a dynamic model with discrete variables of the Sidrauski- Brock type, with infinite-lived households and money in the utility function. The model is...
Persistent link: https://www.econbiz.de/10012725227
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Price stability and debt sustainability under endogenous trend growth
Schmöller, Michaela; McClung, Nigel - 2024
This paper studies price stability and debt sustainability when the real rate exceeds trend growth (r g) in a New Keynesian model with endogenous technology growth through R&D. Under debt-stabilizing ("passive") fiscal policy the Taylor principle is not sufficient for determinacy. Instead,...
Persistent link: https://www.econbiz.de/10014457581
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Does the 'Golden Rule of Public Finance' Imply a Lower Long-Run Growth Rate? A Clarification
Greiner, Alfred - 2012
In a recent paper, Minea and Villieu (2009) assert that the 'golden rule of public finance' implies a lower growth rate than the balanced-budget rule. Their contribution is misleading because it is not the 'golden rule of public finance' that generates their result but rather the fact that...
Persistent link: https://www.econbiz.de/10013117026
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The Golden Rule of Public Finance and the Composition of Government Expenditures : A Growth and Welfare Analysis
Groneck, Max - 2011
This paper employs an endogenous growth model to study the growth and welfare effects of the golden rule of public finance. Two versions are compared, whereby government deficits are restricted for the use of public investments. It is shown that the growth effect of the golden rule depends on...
Persistent link: https://www.econbiz.de/10013117730
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A Golden Rule of Public Finance or a Fixed Deficit Regime? Growth and Welfare Effects of Budget Rules
Groneck, Max - 2011
In this paper, we compare growth and welfare effects of various budget rules within an endogenous growth model with productive public capital, utility enhancing public consumption and public debt. We find that a fixed deficit regime does not affect the long run growth rate compared to a balanced...
Persistent link: https://www.econbiz.de/10012714026
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The relation between budget deficits and growth : complicated but clear
Wray, L. Randall; Lin, Eric - 2024
economic theory offers several reasons to believe that growing deficits might be associated with slower growth, and would … relation between deficits and growth could be positive. Modern Money Theory, adopting Godley's sectoral balance approach …, Lerner's functional finance approach, and Minsky's theory of financial instability takes a more nuanced approach. Historical …
Persistent link: https://www.econbiz.de/10015069505
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A Golden Rule of Public Finance or a Fixed Deficit Regime? Growth and Welfare Effects of Budget Rules
Groneck, Max - 2008
In this paper, we compare growth and welfare effects of various budget rules within an endogenous growth model with productive public capital, utility enhancing public consumption and public debt. We find that a fixed deficit regime does not affect the long run growth rate compared to a balanced...
Persistent link: https://www.econbiz.de/10010298773
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Sustainable Debt Policy Rules and Growth in a Small Open Economy Model : Is a Balanced Government Budget Worthwhile?
Dascher, Fabienne Lara - 2020
economic growth theory. For the government it is possible to run into debt, but, the primary surpulus is a positive linear …
Persistent link: https://www.econbiz.de/10012843238