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Welfare, stabilization, or growth: a comparison of different fiscal objectives Author info | Abstract | Publisher info | Download info | Related research | Statistics Steven P. Cassou
Kevin J. Lansing
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An argument that stabilization produces welfare levels nearly identical to those of welfare maximation, and that both these policies yield large welfare gains and modest growth losses relative to growth maximization policies.
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Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number
9614.
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Date of creation: 1996Date of revision:
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Keywords: Fiscal policy References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
Romer, Paul M, 1986.
"Increasing Returns and Long-run Growth ,"
Journal of Political Economy ,
University of Chicago Press, vol. 94(5), pages 1002-37, October.
[Downloadable!] (restricted)
Lucas, Robert Jr. & Stokey, Nancy L., 1983.
"Optimal fiscal and monetary policy in an economy without capital ,"
Journal of Monetary Economics ,
Elsevier, vol. 12(1), pages 55-93.
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Other versions: Barro, Robert J, 1979.
"On the Determination of the Public Debt ,"
Journal of Political Economy ,
University of Chicago Press, vol. 87(5), pages 940-71, October.
[Downloadable!] (restricted)
Other versions: Barro, Robert J. & Sala-i-Martin, Xavier, 1992.
"Public Finance in Models of Economic Growth ,"
CEPR Discussion Papers
630, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions:
Robert J. Barro & Xavier Sala-i-Martin, 1990.
"Public Finance in Models of Economic Growth ,"
NBER Working Papers
3362, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Sala-I-Martin, X. & Barro, R.J., 1991.
"Public Finance in Models of Economic Growth ,"
Papers
640, Yale - Economic Growth Center.
Barro, Robert J & Sala-i-Martin, Xavier, 1992.
"Public Finance in Models of Economic Growth ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 59(4), pages 645-61, October.
[Downloadable!] (restricted) Christiano, Lawrence J., 1984.
"A reexamination of the theory of automatic stabilizers ,"
Carnegie-Rochester Conference Series on Public Policy ,
Elsevier, vol. 20, pages 147-206.
[Downloadable!] (restricted)
Chamley, Christophe, 1986.
"Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives ,"
Econometrica ,
Econometric Society, vol. 54(3), pages 607-22, May.
[Downloadable!] (restricted)
Greenwood, Jeremy & Hercowitz, Zvi & Huffman, Gregory W, 1988.
"Investment, Capacity Utilization, and the Real Business Cycle ,"
American Economic Review ,
American Economic Association, vol. 78(3), pages 402-17, June.
[Downloadable!] (restricted)
Barro, Robert J, 1990.
"Government Spending in a Simple Model of Endogenous Growth ,"
Journal of Political Economy ,
University of Chicago Press, vol. 98(5), pages S103-26, October.
[Downloadable!] (restricted)
Other versions: Greenwood, J. & Huffman, G., 1991.
"Tax Analysis in A Real Business Cycle Model: On Measuring Harberger Triangles and Okun Gaps ,"
UWO Department of Economics Working Papers
9103, University of Western Ontario, Department of Economics.
Other versions:
Jeremy Greenwood & Gregory W. Huffman, 1991.
"Tax analysis in a real business cycle model: on measuring Harberger triangles and Okun gaps ,"
Staff Report
138, Federal Reserve Bank of Minneapolis.
[Downloadable!] Greenwood, Jeremy & Huffman, Gregory W., 1991.
"Tax analysis in a real-business-cycle model : On measuring Harberger triangles and Okun gaps ,"
Journal of Monetary Economics ,
Elsevier, vol. 27(2), pages 167-190, April.
[Downloadable!] (restricted) Kocherlakota, Narayana R. & Yi, Kei-Mu, 1995.
"Can convergence regressions distinguish between exogenous and endogenous growth models? ,"
Economics Letters ,
Elsevier, vol. 49(2), pages 211-215, August.
[Downloadable!] (restricted)
Jones, Larry E & Manuelli, Rodolfo E & Rossi, Peter E, 1993.
"Optimal Taxation in Models of Endogenous Growth ,"
Journal of Political Economy ,
University of Chicago Press, vol. 101(3), pages 485-517, June.
[Downloadable!] (restricted)
Glomm, Gerhard & Ravikumar, B., 1994.
"Public investment in infrastructure in a simple growth model ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 18(6), pages 1173-1187, November.
[Downloadable!] (restricted)
Hercowitz, Zvi & Sampson, Michael, 1991.
"Output Growth, the Real Wage, and Employment Fluctuations ,"
American Economic Review ,
American Economic Association, vol. 81(5), pages 1215-37, December.
[Downloadable!] (restricted)
Other versions: Ai, Chunrong & Cassou, Steven P, 1995.
"A Normative Analysis of Public Capital ,"
Applied Economics ,
Taylor and Francis Journals, vol. 27(12), pages 1201-09, December.
Zhu, Xiaodong, 1992.
"Optimal fiscal policy in a stochastic growth model ,"
Journal of Economic Theory ,
Elsevier, vol. 58(2), pages 250-289, December.
[Downloadable!] (restricted)
Steven P. Cassou & Kevin J. Lansing, 1995.
"Optimal fiscal policy, public capital, and the productivity slowdown ,"
Working Paper
9509, Federal Reserve Bank of Cleveland.
[Downloadable!]
Other versions:
Cassou, Steven P. & Lansing, Kevin J., 1998.
"Optimal fiscal policy, public capital, and the productivity slowdown ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 22(6), pages 911-935, June.
[Downloadable!] (restricted) Christiano, Lawrence J., 1988.
"Why does inventory investment fluctuate so much? ,"
Journal of Monetary Economics ,
Elsevier, vol. 21(2-3), pages 247-280.
[Downloadable!] (restricted)
Marianne Baxter & Robert G. King, 1995.
"Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series ,"
NBER Working Papers
5022, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: King, Robert G. & Plosser, Charles I. & Rebelo, Sergio T., 1988.
"Production, growth and business cycles : I. The basic neoclassical model ,"
Journal of Monetary Economics ,
Elsevier, vol. 21(2-3), pages 195-232.
[Downloadable!] (restricted)
Chari, V V & Christiano, Lawrence J & Kehoe, Patrick J, 1994.
"Optimal Fiscal Policy in a Business Cycle Model ,"
Journal of Political Economy ,
University of Chicago Press, vol. 102(4), pages 617-52, August.
[Downloadable!] (restricted)
Other versions:
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
K Blackburn & D Varvarigos, 2006.
"Human Capital Accumulation in a Stochastic Environment: Some New Results on the Relationship Between Growth and Volatility ,"
Centre for Growth and Business Cycle Research Discussion Paper Series
74, Economics, The Univeristy of Manchester.
[Downloadable!]
Dimitrios Varvarigos, 2006.
"On stabilisation policy: Are there conflicting implications for growth and welfare? ,"
Discussion Paper Series
2006_19, Department of Economics, Loughborough University, revised Jul 2006.
[Downloadable!]
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