@Book{369950615,
author="Josten, Stefan Dietrich",
title="Dynamic fiscal policies, unemployment, and economic growth",
series="Diskussionspapier 9",
year="2003",
edition="[Elektronische Ressource]",
publisher="Univ. der Bundeswehr, F{\"a}chergruppe Volkswirtschaftslehre",
address="Hamburg",
keywords="Finanzpolitik; Haushaltskonsolidierung; Overlapping Generations; Besch{\"a}ftigungseffekt; Endogenes Wachstumsmodell; Theorie",
abstract="This paper analyzes the growth and employment effects of dynamic fiscal policies in an overlapping generations model with endogenous growth and imperfect labour markets. With balanced-budget policies, the modelled closed economy grows at a constant rate which is the higher, the lower are the labour tax rate and the unemployment rate. Both government Ponzi games and constant-flow budget policies are shown not to be feasible. Furthermore, while constant-stock fiscal policies are sustainable, an increase in the debt-to-capital ratio is accompanied by higher taxes, a rise in unemployment and lower economic growth.",
note="Stefan Dietrich Josten",
note="Systemvoraussetzungen: Acrobat reader.",
url="https://d-nb.info/997637307/34",
url="http://nbn-resolving.de/urn:nbn:de:gbv:705-opus-1370",
url="http://opus.zbw-kiel.de/volltexte/2004/1314/pdf/papernr9.pdf",
language="English"
}