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Fiscal Policy Analysis under Alternative Mechanisms of Endogenous Growth

Author

Listed:
  • Einarsson, T.
  • Marquis, M.H.

Abstract

The 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.

Suggested Citation

  • Einarsson, T. & Marquis, M.H., 1997. "Fiscal Policy Analysis under Alternative Mechanisms of Endogenous Growth," Working Papers 1997_01_01, Department of Economics, Florida State University.
  • Handle: RePEc:fsu:wpaper:1997_01_01
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    Citations

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    Cited by:

    1. Gemmell, Norman, 2001. "Fiscal Policy in a Growth Framework," WIDER Working Paper Series 084, World Institute for Development Economic Research (UNU-WIDER).
    2. Richard Kneller & Norman Gemmell, 2002. "Fiscal Policy, Growth and Convergence in Europe," European Economy Group Working Papers 14, European Economy Group.
    3. Gareth Myles, 2000. "Taxation and economic growth," Fiscal Studies, Institute for Fiscal Studies, vol. 21(1), pages 141-168, March.
    4. 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.

    More about this item

    Keywords

    ECONOMIC GROWTH ; FISCAL POLICY ; TECHNOLOGY;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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