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Policy reforms and growth in computable OLG economies

Mohamed Bouzahzah, David de la Croix () and Frédéric Docquier ()

ULB Institutional Repository from ULB -- Universite Libre de Bruxelles

Abstract: We build a computable general equilibrium model with overlapping generations of agents and an endogenous growth specification à la Lucas. Two main issues are addressed: (i) to what extent does endogenous growth play a significant role in the face of policy reforms and (ii) are the simulation results robust to various calibrations of the production function of human capital. In this purpose, we simulate four large policy changes and compare the predictions with endogenous growth (under various parameter sets) to those with exogenous growth. If endogenous growth is important when examining the effects of education reform, it does not really matter with pension reforms and plays a minor role in the debt repayment scenario. These results are very robust to calibration. © 2002 Elsevier Science B.V. All rights reserved.

Date: 2002
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Published in: Journal of economic dynamics & control (2002) v.26 n° 12,p.2093-2113

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Journal Article: Policy reforms and growth in computable OLG economies (2002) Downloads
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Working Paper: Policy Reforms and Growth in Computable OLG Economies (2000)
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