Greiner, Alfred and Bondarev, Anton . (2015) Public debt and aggregate stability with endogenous growth and a state-dependent consumption tax. Economics bulletin, 35 (4). pp. 2601-2609.
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Official URL: http://edoc.unibas.ch/44027/
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Abstract
We analyze a basic endogenous growth model with public debt and a state-dependent consumption tax rate. We show that the balanced budget rule guarantees that the long-run growth path of the economy is unique and saddle point stable unless the tax rate is strongly regressive. In case of a strongly regressive consumption tax rate over a certain range, multiple balanced growth paths and local indeterminacy can arise.
| Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Umweltökonomie (Krysiak) |
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| UniBasel Contributors: | Bondarev, Anton A. |
| Item Type: | Article, refereed |
| Article Subtype: | Research Article |
| Publisher: | University of Illinois |
| e-ISSN: | 1545-2921 |
| Note: | Publication type according to Uni Basel Research Database: Journal article |
| Related URLs: | |
| Last Modified: | 12 Jul 2018 09:33 |
| Deposited On: | 16 Dec 2016 08:43 |
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