Productive government spending, growth, and sequential voting
نویسندگان
چکیده
منابع مشابه
Productive government spending, growth, and sequential voting
This paper considers an endogenous growth model with productive government spending in which overlapping generations of agents vote sequentially on policy. With sequential majority voting, there is a multiplicity of politico-economic equilibria originating from self-fulfilling policy expectations. Some of these equilibria are Pareto-inefficient and there are endogenous cycles. A constitutional ...
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The latest version of Schumpeterian growth theory eliminates the scale effect by positing a process of development of new product lines that fragments the aggregate market in submarkets whose size does not increase with population. A key feature of this process is the sterilization of the effect of the size of the aggregate market on firms’ incentives to invest in the growth of a given product ...
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ژورنال
عنوان ژورنال: European Journal of Political Economy
سال: 2003
ISSN: 0176-2680
DOI: 10.1016/s0176-2680(02)00168-4