Government Spending in a Monetary Model of Endogenous Growth

Stefano Bosi
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Stefano Bosi: University of Evry

Rivista Internazionale di Scienze Sociali, 2004, vol. 112, issue 3, 239-253

Abstract: Few endogenous growth models are able to encompass unbalanced transitional dynamics. In Barro (1990) public spending is a productive externality and growth is only regular. The second best tax rate equals the public spending return. We provide a monetary version of Barro (1990), where short-run fluctuations are due to money and long-run effects to technology. Barro’s rule is found to be surprisingly robust within transition.

Keywords: cash-in-advance; endogenous growth; indeterminacy. (search for similar items in EconPapers)
JEL-codes: D90 E32 E50 (search for similar items in EconPapers)
Date: 2004
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