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Public Debt, Productive Public Spending and Economic Growth with Full Employment

In: Public Debt and Economic Growth

Author

Listed:
  • Alfred Greiner

    (Bielefeld University)

  • Bettina Fincke

    (Bielefeld University)

Abstract

This chapter presents an endogenous growth model with productive public capital and analyzes growth and welfare effects of three different public debt strategies: the balanced government budget, the scenario where public debt grows in the long-run, but at a smaller rate than capital and consumption, and the scenario where public debt grows at the same rate as capital and consumption. The first two strategies yield the same long-run growth rate that exceeds the one of the third scenario. As concerns welfare the third scenario also performs worst while there is evidence that the second scenarios is better than the first.

Suggested Citation

  • Alfred Greiner & Bettina Fincke, 2009. "Public Debt, Productive Public Spending and Economic Growth with Full Employment," Dynamic Modeling and Econometrics in Economics and Finance, in: Public Debt and Economic Growth, chapter 0, pages 83-110, Springer.
    • Handle: RePEc:spr:dymchp:978-3-642-01745-2_4
    DOI: 10.1007/978-3-642-01745-2_4
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