Indeterminacy and utility-generating government spending under balanced-budget fiscal policies

Material type: 文書・図像類

Author: Maebayashi, Noritakaほか

Publisher: Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

Publication date: 2013-07

Material Format: Paper

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Note (General)：: We reexamine indeterminacy and utility-generating public spending under balancedbudget rules in a simple one-sector growth model. The introduction of ...

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Paper

Material Type: 文書・図像類
Title: Indeterminacy and utility-generating government spending under balanced-budget fiscal policies
Author/Editor: Maebayashi, Noritaka
Hori, Takeo
Author Heading: Maebayashi, Noritaka
https://nrid.nii.ac.jp/nrid/1000030735733
Hori, Takeo
https://nrid.nii.ac.jp/nrid/1000080547513
Publication, Distribution, etc.: Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
Publication Date: 2013-07
Publication Date (W3CDTF): 2013-07
Periodical title: Discussion Papers In Economics And Business
No. or year of volume/issue: 13-13
Volume: 13-13
Pages: 1-22
Text Language Code: eng
Subject Heading: utility-generating public spending
indeterminacy
balanced-budget rule
Target Audience: 一般
Note (General): We reexamine indeterminacy and utility-generating public spending under balancedbudget rules in a simple one-sector growth model. The introduction of consumption tax (subsidy) as well as subsidies for savings and labor modify indeterminacy conditions in the existing studies. We show that if consumption subsidies and income taxes exist, indeterminacy occurs even when private and public consumption are Edgeworth substitutes and public spending and leisure are separable in the utility function. Indeterminacy also occurs even when they are weak Edgeworth complements if consumption tax and subsidies for savings and labor are present. Surprisingly, when they are strong Edgeworth complements, the stronger external effects of public consumption tend to lower the possibility of equilibrium indeterminacy in the presence of consumption tax.
References (URI): http://www2.econ.osaka-u.ac.jp/library/global/dp/1313.pdf
URI
http://www2.econ.osaka-u.ac.jp/library/global/dp/1313.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華