Fiscal policy, adjustment costs and endogenous growth / Stephen J. Turnovsky Turnovsky, Stephen J

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Turnovsky, Stephen J
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Oxford Economic Papers
Consumption (Economics) - Mathematical models.; Public finance -- Analysis; Economic stabilization -- Analysis
A one-sector endogenous growth model is used to identify the conditions that create a balanced growth path. The model, which considers convex adjustment costs in investments, analyzes fiscal policies concerning public expenditure finance through tax dollars. Results indicate that government adjustment costs that are used to enhance the productivity of public expenditures will help in the development of an optimal fiscal policy.
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