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Endogenous Growth and European Fiscal Rules
[Zeitschriftenartikel]
Abstract We develop a general equilibrium endogenous growth model of a monetary union between two countries that differ in economic dimension and level of development. By solving transitional dynamics towards the steady state, we examine the impact of fiscal shocks that may lead to excessive deficits. Result... mehr
We develop a general equilibrium endogenous growth model of a monetary union between two countries that differ in economic dimension and level of development. By solving transitional dynamics towards the steady state, we examine the impact of fiscal shocks that may lead to excessive deficits. Results suggest that the individual and the whole impact of such deficits depend on which country they occur. In such context, we argue that the small and less developed country should be allowed to temporarily run an excessive deficit, in order to improve economic convergence within the union.... weniger
Klassifikation
Volkswirtschaftstheorie
Wirtschaftspolitik
Öffentliche Finanzen und Finanzwissenschaft
Sprache Dokument
Englisch
Publikationsjahr
2009
Seitenangabe
S. 849-858
Zeitschriftentitel
Applied Economics, 41 (2009) 7
DOI
https://doi.org/10.1080/00036840701604503
ISSN
1466-4283
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)