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Multiple equilibria in government transfer policy

✍ Scribed by Alvaro Forteza


Book ID
114179179
Publisher
Elsevier Science
Year
2001
Tongue
English
Weight
185 KB
Volume
17
Category
Article
ISSN
0176-2680

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✍ Jaime Alonso-Carrera; Marı́a JesΓΊs Freire-SerΓ©n πŸ“‚ Article πŸ“… 2004 πŸ› Elsevier Science 🌐 English βš– 301 KB

This paper shows that in a three-sector model of endogenous growth with physical and human capital accumulation, taxation policy can generate indeterminacy under plausible parameterizations. The key for this result is that the accumulation of human capital is a non-market activity in which individua