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文章基本信息

  • 标题:Ramsey Fiscal Policy and Endogenous Growth: A Comment
  • 本地全文:下载
  • 作者:Jenn-hong Tang
  • 期刊名称:Economics Bulletin
  • 电子版ISSN:1545-2921
  • 出版年度:2010
  • 卷号:30
  • 期号:3
  • 页码:2450-2456
  • 出版社:Economics Bulletin
  • 摘要:Recently, Park (2009, Economic Theory 39, 377--398) extended the Barro endogenous growth model (1990) by assuming that tax rate is optimally chosen by the government and labor supply is elastic. Park claimed to have proved the existence of multiple balanced growth paths that exhibit zero growth rate and local indeterminacy. In this comment, it is shown that his claim is incorrect. The model has a unique balanced growth path that may exhibit positive growth, and the model has no transitional dynamics
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