PUBLIC DEBT AND PUBLIC INVESTMENT IN AN ENDOGENOUS GROWTH MODEL WITH REAL WAGE RIGIDITIES

Greiner A, Flaschel P (2010)
SCOTTISH JOURNAL OF POLITICAL ECONOMY 57(1): 68-84.

Journal Article | Published | English

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Abstract
We present an endogenous growth model with public capital, public debt and real wage rigidities due to labor market imperfections. Assuming that the primary surplus relative to gross domestic produce (GDP) is a positive function of the debt to GDP ratio, we study growth and employment effects of deficit-financed public investment using simulations as well as how fiscal policy affects stability of the economy. Further, we contrast the growth rate and the unemployment rate in the deficit scenario with that of the balanced budget scenario. Finally, we compare our results with those obtained in case of flexible wages and full employment.
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Greiner A, Flaschel P. PUBLIC DEBT AND PUBLIC INVESTMENT IN AN ENDOGENOUS GROWTH MODEL WITH REAL WAGE RIGIDITIES. SCOTTISH JOURNAL OF POLITICAL ECONOMY. 2010;57(1):68-84.
Greiner, A., & Flaschel, P. (2010). PUBLIC DEBT AND PUBLIC INVESTMENT IN AN ENDOGENOUS GROWTH MODEL WITH REAL WAGE RIGIDITIES. SCOTTISH JOURNAL OF POLITICAL ECONOMY, 57(1), 68-84.
Greiner, A., and Flaschel, P. (2010). PUBLIC DEBT AND PUBLIC INVESTMENT IN AN ENDOGENOUS GROWTH MODEL WITH REAL WAGE RIGIDITIES. SCOTTISH JOURNAL OF POLITICAL ECONOMY 57, 68-84.
Greiner, A., & Flaschel, P., 2010. PUBLIC DEBT AND PUBLIC INVESTMENT IN AN ENDOGENOUS GROWTH MODEL WITH REAL WAGE RIGIDITIES. SCOTTISH JOURNAL OF POLITICAL ECONOMY, 57(1), p 68-84.
A. Greiner and P. Flaschel, “PUBLIC DEBT AND PUBLIC INVESTMENT IN AN ENDOGENOUS GROWTH MODEL WITH REAL WAGE RIGIDITIES”, SCOTTISH JOURNAL OF POLITICAL ECONOMY, vol. 57, 2010, pp. 68-84.
Greiner, A., Flaschel, P.: PUBLIC DEBT AND PUBLIC INVESTMENT IN AN ENDOGENOUS GROWTH MODEL WITH REAL WAGE RIGIDITIES. SCOTTISH JOURNAL OF POLITICAL ECONOMY. 57, 68-84 (2010).
Greiner, Alfred, and Flaschel, Peter. “PUBLIC DEBT AND PUBLIC INVESTMENT IN AN ENDOGENOUS GROWTH MODEL WITH REAL WAGE RIGIDITIES”. SCOTTISH JOURNAL OF POLITICAL ECONOMY 57.1 (2010): 68-84.
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