Dynamic effects of government expenditure in a finance constrained economy

DOI10.1016/J.JET.2004.12.003MaRDI QIDQ2491040zbMATH OpenOpenAlexFDO

Authors Yoichi Gokan

Publication date 18 May 2006

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jet.2004.12.003

zbMATH Keywords

capital--labor substitution in productiondynamic effects of government expenditureindeterminacylocal bifurcations

Mathematics Subject Classification ID

Dynamical systems in optimization and economics (37N40) Economic growth models (91B62)

Recommendations

• Alternative government financing and aggregate fluctuations driven by self-fulfilling expectations
• Factors substitutability, heterogeneity and endogenous fluctuations in a finance constrained economy
• The influence of different forms of government spending on distribution and growth
• Productive government expenditure in a stochastically growing open economy
• Factor substitution and taxation in a finance constrained economy

Cites work

• Capital-labor substitution and competitive nonlinear endogenous business cycles
• Complicated endogenous business cycles under gross substitutability
• Factors substitutability, heterogeneity and endogenous fluctuations in a finance constrained economy
• Indeterminacy and increasing returns
• Introduction to market psychology and nonlinear endogenous business cycles
• Multiple steady states and endogenous fluctuations with increasing returns to scale in production
• On the transition from local regular to global irregular fluctuations
• SELF-FULFILLING PROPHECIES AND THE BUSINESS CYCLE
• Stationary sunspot equilibria in a finance constrained economy
• Sunspots and the business cycle in a finance constrained economy

Cited in

(8)

• Implications of productive government spending for fiscal policy
• An illustration of the causality relation between government spending and revenue using wavelet analysis on Finnish data
• Market distortions and local indeterminacy: a general approach
• Aggregate instability under balanced-budget consumption taxes: a re-examination
• Factor substitution and taxation in a finance constrained economy
• Sectoral composition of government spending, distortionary income taxation, and macroeconomic (in)stability
• Poverty traps, the money growth rule, and the stage of financial development
• Alternative government financing and aggregate fluctuations driven by self-fulfilling expectations

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