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Long-Run Growth Versus Welfare : The Importance of Transitional Dynamics When Assessing Alternative Fiscal Policies

Atolia, Manoj - 2011

This paper analyzes the effects of distortionary taxes on growth and welfare in an endogenous growth model with a public capital externality. The model is calibrated to the U.S. economy, and experiments are run under which the tax regime is shifted from the current mix of capital income, labor...

Persistent link: https://www.econbiz.de/10012713945

Productive Government Expenditure and Economic Growth

Irmen, Andreas; Kuehnel, Johanna - 2021

We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...

Persistent link: https://www.econbiz.de/10013316522

The supply of hours worked and fluctuations between growth regimes

Iong, Ka-Kit; Irmen, Andreas - 2021

Declining hours of work per worker in conjunction with a growing work force may give rise to fluctuations between growth regimes. This is shown in an overlapping generations model with two-period lived individuals endowed with Boppart-Krusell preferences (Boppart and Krusell (2020)). On the...

Persistent link: https://www.econbiz.de/10012499514

Capital requirements, risk-taking and welfare in a growing economy

Agénor, Pierre-Richard; Silva, Luiz A. Pereira da - 2017

The effects of capital requirements on risk-taking and welfare are studied in a stochastic overlapping generations model of endogenous growth with banking, limited liability, and government guarantees. Capital producers face a choice between a safe technology and a risky (but socially...

Persistent link: https://www.econbiz.de/10011661894

On the long-run growth effect of raising the retirement age

Kuhn, Michael; Prettner, Klaus - 2016

We show that the long-run economic growth effect of an increase in the retirement age is unambiguously positive in research and development based endogenous growth models. This contrasts recent findings based on models of learning-by-doing-spillovers, in which an increase in the retirement age...

Persistent link: https://www.econbiz.de/10011567734

Factor income distribution and endogenous economic growth : when Piketty meets Romer

Irmen, Andreas; Tabaković, Amer - 2016

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …

Persistent link: https://www.econbiz.de/10011568791

Environmental policy and growth when inputs are differentiated in pollution intensity

Ricci, Francesco - 2002

Environmental policy affects the distribution of market shares if intermediate goods are differentiated in pollution intensity. When innovations are environmental friendly, a tax on emissions skews demand towards new goods, which are the most productive. In this case along a balanced growth path...

Persistent link: https://www.econbiz.de/10011596394

Source country economic development and dynamics of the skill composition of emigration

Idu, Roxana - In: Economies : open access journal 7 (2019) 1/18, pp. 1-18

This paper presents an endogenous growth model of migration and technological diffusion with transitional dynamics, which provide explanations for the empirical pattern of the mobility transition. A two-skill group extension of this model offers new hypotheses regarding the skill composition of...

Persistent link: https://www.econbiz.de/10012020516

Growth and the geography of knowledge

Aloi, Marta; Poyago-Theotoky, Joanna; Tournemaine, … - 2018

We analyse how spatial disparities in innovation activities, coupled with migration costs, affect economic geography, growth and regional inequality. We provide conditions for existence and uniqueness of a spatial equilibrium, and for the endogenous emergence of industry clusters. Spatial...

Persistent link: https://www.econbiz.de/10011810111

Optimal carbon policies in a dynamic heterogenous world

Borissov, Kirill; Bretschger, Lucas - 2018

We derive the optimal contributions to global climate policy when countries differ with respect to income level and pollution intensity. Countries' growth rates are determined endogenously, and abatement efficiency is improved by technical progress. We show that country heterogeneity has a...

Persistent link: https://www.econbiz.de/10011920831