This paper considers an endogenous growth model with productive government spending in which overlapping generations of agents vote sequentially on policy. With sequential majority voting, there is a multiplicity of politico-economic equilibria originating from self-fulfilling policy expectations. Some of these equilibria are Pareto-inefficient and there are endogenous cycles. A constitutional ...

in this paper, asymmetric effects of exchange rate fluctuation (according to positive and negative shocks) on real output were investigated. in the meantime, the study of behaviour of real output growth in iran’s economy over the period 1338-1386 was done. in specification of the output growth equation, in spite of considering positive and negative shocks of exchange rate, the effects of other ...

firm size and its impact on the firm performance examined in all of economics historical periods from different point of view. meanwhile, productivity is one the most important performance index for each firm, therefore so many studies tries to survey firm size impact on it. in iran also, economics literature replete with productivity studies but the impact of size on it rarely seen between the...

regarding the decentralization of credits management, this study examined the effect of fiscal policies on gross domestic product of the iranian provinces over the period 2001-2009. therefore, we used dynamic panel data and employed gmm-sys method to examine the model. the results show that the government expenditure and tax multiplier coefficients are less than one in short - run but greater t...

in this paper, we develop a ramsey-type endogenous growth model in which government spending on property rights protection is a major determinant of economic growth. this model includes equations for welfare, private and public sectors production. we introduce the legal efficiency into private production function, and x-inefficiency parameter into public production function. also, we consider t...