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  • welfare  (1)
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    Electronic Resource
    Electronic Resource
    Growth and Welfare Effects of Fiscal Policy in an Endogenous Growth Model with Public Investment (1998)
    Springer
    International tax and public finance 5 (1998), S. 249-261 
    Details
    ISSN: 1573-6970
    Keywords: Public capital ; endogenous growth ; fiscal policy ; welfare
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this paper we analyze growth and welfare effects of fiscal policy in an endogenous growth model along the balanced growth path. As to the model we assume that sustained per capita growth results from public investment. The government uses its tax revenue for investment in public capital, for investment subsidy and for transfer payments. We then analyze how the balanced growth rate reacts to variations in those policy variables. Further, we study welfare effects of varying the fiscal parameters and demonstrate that, in general, maximizing economic growth is not equivalent to maximizing welfare on the balanced growth path.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008673925024
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