Fiscal Policy Analysis under Alternative Mechanisms of Endogenous Growth
AbstractThe endogenous growth models of Lucas (1988) and Uzawa (1965) that rely on a formal training technology to generate growth, and the endogenous technologiacl change model of Romer (1990) fit the long-run secular growth path of the US economy equally well. However, the Romer model yields significantly larger welfare cists associated with distortionary taxes on factor income. Moreover, the short-run dynamic properties of the two types of endogenous growth models are very different.
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Bibliographic InfoPaper provided by Department of Economics, Florida State University in its series Working Papers with number 1997_01_01.
Length: 28 pages
Date of creation: 1997
Date of revision:
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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- Norman Gemmell & Richard Kneller, 2003.
"Fiscal Policy, Growth and Convergence in Europe,"
Treasury Working Paper Series
03/14, New Zealand Treasury.
- Norman Gemmell, 2010.
"Fiscal Policy in a Growth Framework,"
- Einarsson, Tor & Marquis, Milton H., 1999.
"Formal Training, On-the-Job Training and the Allocation of Time,"
Journal of Macroeconomics,
Elsevier, vol. 21(3), pages 423-442, July.
- Einarsson, T. & Marquis, M.H., 1996. "Formal Training, On-the-Job Training and the Allocation of Time," Working Papers 1996_06_01, Department of Economics, Florida State University.
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