Title: Fiscal Policy Analysis under Alternative Mechanisms of Endogenous Growth
Abstract: The endogenous growth models of Lucas (1988) and Uzawa (1965) that rely on a formal training technology to generate growth, and the endogenous technologiacl change model of Romer (1990) fit the long-run secular growth path of the US economy equally well. However, the Romer model yields significantly larger welfare cists associated with distortionary taxes on factor income. Moreover, the short-run dynamic properties of the two types of endogenous growth models are very different.
Publication Year: 1997
Publication Date: 1997-01-01
Language: en
Type: preprint
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Cited By Count: 2
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