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Endogenous Fluctuations and Public Services in a Simple OLG Economy

Author

Listed:
  • Thomas Seegmuller

    (BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique)

Abstract

In a simple OLG model, we introduce public services which work as a source of utility. Assuming constant returns to scale in production, we show that public services promote the occurrence of local indeterminacy. In contrast to a lot of existing contributions which have exploited productive externalities, this paper establishes that the existence of externalities in the utility function can explain the emergence of endogenous fluctuations.

Suggested Citation

  • Thomas Seegmuller, 2003. "Endogenous Fluctuations and Public Services in a Simple OLG Economy," Post-Print halshs-00194108, HAL.
    • Handle: RePEc:hal:journl:halshs-00194108
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    Citations

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    Cited by:

    1. Teresa Lloyd‐Braga & Leonor Modesto & Thomas Seegmuller, 2008. "Tax Rate Variability and Public Spending as Sources of Indeterminacy," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(3), pages 399-421, June.
    2. Mohanad Ismael, 2014. "Progressive income taxes and macroeconomic instability," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 10(2), pages 49-61.
    3. Mohanad Ismael, 2010. "Progressive income taxes and macroeconomic instability," Documents de recherche 10-13, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    4. Vivaldo M. Mendes & Diana A. Mendes, 2006. "Active Interest Rate Rules and the Role of Stabilization Policy R&D Tax Credits," Working Papers Series 1 ercwp0208, ISCTE-IUL, Business Research Unit (BRU-IUL).

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