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Dynamic political effects in a neoclassic growth model with healthcare and creative activities

Author

Listed:
  • Luis Guimarães

    (Faculdade de Economia, Universidade do Porto)

  • Óscar Afonso

    (CEFUP, OBEGEF, NIFIP and Faculdade de Economia, Universidade do Porto)

  • Paulo B. Vasconcelos

    (CMUP, OBEGEF and Faculdade de Economia, Universidade do Porto)

Abstract

This paper incorporates healthcare and creative activities in the Ramsey-Cass-Koopmans model in order to analyse the endogenous growth effects arising from governmental policies. An increase in lump-sum taxes and inefficient expenditures decrease the short, medium and the long-run economic growth.

Suggested Citation

  • Luis Guimarães & Óscar Afonso & Paulo B. Vasconcelos, 2011. "Dynamic political effects in a neoclassic growth model with healthcare and creative activities," FEP Working Papers 441, Universidade do Porto, Faculdade de Economia do Porto.
    • Handle: RePEc:por:fepwps:441
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    More about this item

    Keywords

    Neoclassical economic growth; Governmental policies; Health-care and creative activities; Numerical analysis;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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