Government spending composition, aggregate demand, growth, and distribution

被引：11
|
作者：
Tavani, Daniele [1 ]
Zamparelli, Luca [2 ]
机构：
[1] Colorado State Univ, Dept Econ, 1771 Campus Delivery, Ft Collins, CO 80523 USA
[2] Sapienza Univ Rome, Dept Social Sci & Econ, Ple Aldo Moro 5, I-00185 Rome, Italy
来源：
REVIEW OF KEYNESIAN ECONOMICS | 2017年 / 5卷 / 02期
关键词：
Keynesian growth; government spending composition; factor shares; fiscal policy; PUBLIC-EXPENDITURE; MODEL; INNOVATION; POLICY; TIME;
D O I：
10.4337/roke.2017.02.06
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We study a demand-driven growth and distribution model with a public sector, both without and with government debt. Government spending is used to finance the accumulation of public capital and to pay wages to public employees. The interaction between public capital and induced technical change makes long-run growth: (i) hump-shaped in the composition of government spending, (ii) wage-led, and (iii) government-spending-led. Provided that the interest rate on government bonds is kept below the growth rate, the size of government debt is irrelevant for long-run growth.
引用
收藏
页码：239 / 258
页数：20
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