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Government Purchases and Real Interest Rates with Endogenous Labour Supply

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  • Palivos, Theodore
  • Yip, Chong K

Abstract

Within the one-sector optimal growth framework with public services and labour-leisure choice, the authors find that the edicts of temporary productive government spending on the real interest rate depend on the discrepancy between actual and optimal government sizes as well as on the length of the action lag. This paper thus sheds light on the controversy between the empirical findings and the theoretical predictions regarding the behavior of the real interest rate within the neoclassical framework. Copyright 1996 by The Economic Society of Australia.

Suggested Citation

  • Palivos, Theodore & Yip, Chong K, 1996. "Government Purchases and Real Interest Rates with Endogenous Labour Supply," The Economic Record, The Economic Society of Australia, vol. 72(219), pages 332-340, December.
  • Handle: RePEc:bla:ecorec:v:72:y:1996:i:219:p:332-40
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    Cited by:

    1. Shieh, Jhy-yuan & Chen, Jhy-hwa & Lai, Ching-chong, 2006. "Government spending, capital accumulation and the optimal policy rule: The role of public service capital," Economic Modelling, Elsevier, vol. 23(6), pages 875-889, December.

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