論文 - 玉井　寿樹

Fiscal policy and adjustment costs of private investment in an endogenous growth model with public capital 査読有り 国際誌

Tamai Toshiki

FINANZARCHIV   62 巻 ( 4 ) 頁： 455 - 470   2006年12月

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記述言語：日本語   掲載種別：研究論文（学術雑誌）   出版者・発行元：FinanzArchiv  

This paper develops an endogenous growth model with public capital and examines the growth and welfare effects of a fiscal policy that is financed by corporate taxation. In the model, we incorporate the investment decision-making of competitive firms by considering the adjustment costs of private investment. We show that there arises an indeterminacy of the balanced growth path. Furthermore, it is demonstrated that growth-maximizing policy is not equivalent to welfare-maximizing policy on the balanced growth path. © 2006 Mohr Siebeck.

DOI： 10.1628/001522106X172652

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