Ghosh, Sugata; Mourmouras, Iannis A. - In: Bulletin of Economic Research 56 (2004) 3, pp. 241-250
Within the Barro (1990) model of productive public services, but with the inclusion of public debt, we derive and characterize on the balanced growth path, a set of welfare-maximizing fiscal rules under two budgetary regimes - one with only the standard dynamic government budget constraint, and...