This paper describes the global properties of the Ben-Gad (2013) economy where goverment public spending is financed by a distortionary taxation, in an endogenous growth framework with sector specific external effects. The application of the original Bogdanov-Takens theorem allows us to characterize the regions of the parametric space where the model exhibits a global indeterminate equilibrium and a low-growth trapping region.
Distortionary taxes and global indeterminacy in an endogenous growth model with elastic labor supply
BELLA, GIOVANNI
2014-01-01
Abstract
This paper describes the global properties of the Ben-Gad (2013) economy where goverment public spending is financed by a distortionary taxation, in an endogenous growth framework with sector specific external effects. The application of the original Bogdanov-Takens theorem allows us to characterize the regions of the parametric space where the model exhibits a global indeterminate equilibrium and a low-growth trapping region.
File in questo prodotto:
| File | Dimensione | Formato | |
|---|---|---|---|
|
MFL.pdf
Solo gestori archivio
Dimensione
170.82 kB
Formato
Adobe PDF
|
170.82 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
