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Birth, Death, and Dynamic Inefficiency in an Endogenous Growth Model

James Kahn (), Jong-Soo Lim and Changyong Rhee

International Economic Journal, 1997, vol. 11, issue 3, 85-102

Abstract: This paper builds a finite horizon endogenous growth model by incorporating Lucas' (1988) human capital model into an uncertain lifetime framework a la Buiter (1988). Our finite horizon model has different policy implication from infinite horizon models. For example, a non-positive link between capital income taxation and economic growth in infinite horizon models does not hold in our finite horizon model. Also, our finite horizon model shows that the short-run macro management policy which has only the level effect in infinite horizon models can affect the long-run economic growth. [O4]

Date: 1997
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DOI: 10.1080/10168739700000021

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