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Política fiscal, expectativas y transición dinámica en el modelo simple de crecimiento endógeno

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  • Rodríguez-Arana, Alejandro

    () (Universidad Iberoamericana)

Abstract

En el modelo neoclásico simple de crecimiento endógeno este artículo muestra que las políticas fiscales que podrían considerarse expansivas propician un nivel de acervo de capital de largo plazo más elevado cuando son anunciadas que cuando no lo son. Sin embargo, el efecto de estas políticas sobre la tasa de crecimiento de largo plazo es el mismo independientemente de si son o no anunciadas. En particular, los cambios en las tasas de impuestos al consumo son neutrales cuando no son anunciados, pero tienen efectos de corto plazo sobre el crecimiento y permanentes sobre el acervo de capital cuando son anunciados. / In the simplest neoclassical endogenous growth model, this paper shows that fiscal policies that could be considered as expansive produce a higher level of the capital stock when they are announced. The effects of these policies on the long rate of growth are the same whether or not the policies are announced, nonetheless. In particular, changes in the consumption’s tax rates are neutral when they are not announced, but they have short run effects on the rate of growth, and a permanent effect on the capital stock, when they are announced.

Suggested Citation

  • Rodríguez-Arana, Alejandro, 2014. "Política fiscal, expectativas y transición dinámica en el modelo simple de crecimiento endógeno," Panorama Económico, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(18), pages 7-32, primer se.
  • Handle: RePEc:ipn:panora:v:ix:y:2014:i:18:p:7-32
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    References listed on IDEAS

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    More about this item

    Keywords

    crecimiento endógeno; política fiscal; expectativas racionales; ecuación de Euler. / endogenous growth; fiscal policy; rational expectations; Euler equation.;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy

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