English, Article edition: Indeterminancy and Government Spending in a Two-Sector Model of Endogenous Growth Xavier Raurich

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Indeterminancy and Government Spending in a Two-Sector Model of Endogenous Growth
Author
  • Xavier Raurich
Physical Description
  • article
Notes
  • This paper analyzes the dynamic behaviour of a two-sector model of endogenous growth with unproductive government spending. In this model, we prove that the subspace of the parameter space where the equilibrium exhibits indeterminacy is larger, the large the fraction of government revenues devoted to government expenditures is, the more patient consumers are, and the more consumers are willing to substitute consumption intertemporally. Our analysis shows that, with the introduction of unproductive government spending, indterminancy becomes a plausible property of the dynamic equilibium in a two-sector growth moel with factor taxes as the only market imperfection. We also show that, when the fraction of government revenues devoted to government expenditures is large, plausible fiscal policies may cause the equilibrium to exhibit indeterminacy. (Copyright: Elsevier)
  • indeterminacy, government spending, two-sector model, endogenous growth
  • RePEc:red:issued:v:4:y:2001:i:1:p:210-229
Language
  • English
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