๐”– Bobbio Scriptorium
โœฆ   LIBER   โœฆ

On the role of government in a stochastically growing open economy

โœ Scribed by Stephen J. Turnovsky

Publisher
Elsevier Science
Year
1999
Tongue
English
Weight
223 KB
Volume
23
Category
Article
ISSN
0165-1889

No coin nor oath required. For personal study only.

โœฆ Synopsis

The relationship between the size of government, economic growth, and volatility in a small open economy is analyzed. First, we characterize the stochastic equilibrium for a centrally planned economy, contrasting it with a closed economy. The role of government consumption expenditure both as a stabilizing and a destabilizing factor is discussed. The optimal size of government is derived and we find that an open economy will have a larger government if and only if it is a net creditor. Second, the stochastic equilibrium in a decentralized economy is characterized and the optimal tax structure derived. Finally, the role of government production expenditure and its impact on risk is briefly discussed.

๐Ÿ“œ SIMILAR VOLUMES

On the determinants of Central Bank inde
On the determinants of Central Bank independence in open economies
โœ Marcello D'Amato; Barbara Pistoresi; Francesco Salsano ๐Ÿ“‚ Article ๐Ÿ“… 2009 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 131 KB

## Abstract We test some positive implications of the commitment hypothesis for the design of monetary institutions in open economies, by studying the determinants of Central Bank independence on a sample of 55 countries, for the period 1980โ€“1989. We document fairly consistent empirical evidence in

The role of student government in facult
The role of student government in faculty evaluation
โœ Raoul A. Arreola ๐Ÿ“‚ Article ๐Ÿ“… 1987 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 387 KB

During the last dozen or so years that I have spent designing or operating faculty evaluation systems around the country, student governments have rarely played a serious role. However, a number of major student-rating systems had their beginnings as student government efforts. The fact that student

Role of nuclear energy in environment, e
Role of nuclear energy in environment, economy, and energy issues of the 21st century โ€“ Growing energy demand in Asia and role of nuclear
โœ Masanori Tashimo; Kazuaki Matsui ๐Ÿ“‚ Article ๐Ÿ“… 2008 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 375 KB

The economic growth of recent Asia is rapid, and the GDP and the energy consumption growth rate are about 8e10% in China and India. The energy consumption forecast of Asia in this century was estimated based on the GDP growth rate by Goldman Sachs. As a result, about twice in India and Association o