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A Model of Economic Growth with Public Finance: Dynamics and Analytic Solution

Year 2013, Volume: 3 Issue: 1, 1 - 13, 01.03.2013

Abstract

This paper studies the equilibrium dynamics of a growth model with public finance where two different allocations of public resources are considered. The model simultaneously determines the optimal shares of consumption, capital accumulation, taxes and composition of the two different public expenditures which maximize a representative household's lifetime utilities in a centralized economy. The analysis supplies a closed form solution. Moreover, with one restriction on the parameters () we fully determine the solutions path for all variables of the model and determine the conditions for balanced growth.

Year 2013, Volume: 3 Issue: 1, 1 - 13, 01.03.2013

Abstract

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Details

Other ID JA66TD83EV
Journal Section Research Article
Authors

Oliviero Antonio Carboni This is me

Paolo Russu This is me

Publication Date March 1, 2013
Published in Issue Year 2013 Volume: 3 Issue: 1

Cite

APA Carboni, O. A., & Russu, P. (2013). A Model of Economic Growth with Public Finance: Dynamics and Analytic Solution. International Journal of Economics and Financial Issues, 3(1), 1-13.
AMA Carboni OA, Russu P. A Model of Economic Growth with Public Finance: Dynamics and Analytic Solution. IJEFI. March 2013;3(1):1-13.
Chicago Carboni, Oliviero Antonio, and Paolo Russu. “A Model of Economic Growth With Public Finance: Dynamics and Analytic Solution”. International Journal of Economics and Financial Issues 3, no. 1 (March 2013): 1-13.
EndNote Carboni OA, Russu P (March 1, 2013) A Model of Economic Growth with Public Finance: Dynamics and Analytic Solution. International Journal of Economics and Financial Issues 3 1 1–13.
IEEE O. A. Carboni and P. Russu, “A Model of Economic Growth with Public Finance: Dynamics and Analytic Solution”, IJEFI, vol. 3, no. 1, pp. 1–13, 2013.
ISNAD Carboni, Oliviero Antonio - Russu, Paolo. “A Model of Economic Growth With Public Finance: Dynamics and Analytic Solution”. International Journal of Economics and Financial Issues 3/1 (March 2013), 1-13.
JAMA Carboni OA, Russu P. A Model of Economic Growth with Public Finance: Dynamics and Analytic Solution. IJEFI. 2013;3:1–13.
MLA Carboni, Oliviero Antonio and Paolo Russu. “A Model of Economic Growth With Public Finance: Dynamics and Analytic Solution”. International Journal of Economics and Financial Issues, vol. 3, no. 1, 2013, pp. 1-13.
Vancouver Carboni OA, Russu P. A Model of Economic Growth with Public Finance: Dynamics and Analytic Solution. IJEFI. 2013;3(1):1-13.