Finite Horizons, Political Economy, and Growth
نویسندگان
چکیده
منابع مشابه
Political Economy of Debt and Growth
We present a theory of endogenous fiscal policy and growth. Fiscal policy — debt, income tax, spending on local public goods and public investment — is determined through legislative bargaining. Economic growth depends directly on public investment, private investment in human capital and, via learning-by-doing, labor supply. The model predicts that the economy converges to a balanced growth pa...
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In this Appendix we present additional results for our paper “Political Economy of Debt and Growth.”In Section 1 we (1) offer a discussion on the relationship to Battaglini and Coate [2008] framework; (2) discuss the relevance of our results for open economies; and (3) elaborate on how the model can be adopted for empirical analysis at high and medium frequencies. In Section 2 we present deriva...
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15 صفحه اولThe Political Economy of Growth: Democracy and Human Capital
Democracy is more than just another brake or booster for the economy. We argue that there are significant indirect effects of democracy on growth through public health and education. Where economists use life expectancy and education as proxies for human capital, we expect democracy will be an important determinant of the level of public services manifested in these indicators. In addition to w...
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2001
ISSN: 1094-2025
DOI: 10.1006/redy.2000.0111