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Política Fiscal, Expectativas y Transición Dinámica en el Modelo Simple de Crecimiento Endógeno

Alejandro Rodríguez Arana
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Alejandro Rodríguez Arana: Department of Economics, Universidad Iberoamericana, Mexico City. Mexico

Working Papers from Universidad Iberoamericana, Department of Economics

Abstract: In the simplest neoclassical endogenous growth model, this paper shows that fiscal policies that could be considered as expansive produce a higher level of the capital stock when they are announced. The effects of these policies on the long rate of growth are the same whether or not the policies are announced, nonetheless. In particular, changes in the consumption’s tax rates are neutral when they are not announced, but they have short run effects on the rate of growth, and a permanent effect on the capital stock, when they are announced.

Date: 2012
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