{"product_id":"fiscal-policy-in-a-growth-model-with-a-public-capital-externality-von-bassam-awad","title":"Fiscal Policy in a Growth Model with a Public Capital Externality","description":"\u003cp\u003eThis book addresses three questions that are central  to the  analysis of fiscal policy.   First, how good are linearization and higher-order  approximations in an endogenous growth model with  public capital? Second, how important are the  transitional dynamics in assessing fiscal policy  alternatives when comparing the long-run economic  growth and welfare? Third, is a consumption tax  optimal in an economy with public and private human  capital when the tax structure is time-invariant? To  answer these questions, I have used an endogenous  growth model where the growth is driven by  accumulation of human capital and fueled by a  public capital externality. I conclude: (i) the  policies that involve the highest rates of economic  growth do not always provide the highest welfare;  (ii) the traditional  methods used to analyze the  impact of tax policy alternatives might  involve significant approximation errors, and the use  of  actual transitional path in analyzing fiscal policy  in this book eliminates this problem; and (iv) the  long-run welfare  benefits of fiscal policy reform may take years to be  realized, with  welfare losses accruing in the short-run.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783843381253\"\u003e\u003ch3\u003eComputational Accuracy and Optimal Investments in Public, Private, and Human Capital\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783843381253","offer_id":39470088454237,"sku":"9783843381253","price":68.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/1d1a42d0-3606-4807-95d9-463f632a9df3.jpg?v=1737528173","url":"https:\/\/shop.autorenwelt.de\/products\/fiscal-policy-in-a-growth-model-with-a-public-capital-externality-von-bassam-awad","provider":"Autorenwelt Shop","version":"1.0","type":"link"}