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dc.contributor.authorGroneck, Maxen_US
dc.date.accessioned2009-08-12T07:39:42Z-
dc.date.available2009-08-12T07:39:42Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/27680-
dc.description.abstractIn this paper, we compare growth and welfare e¤ects of various budget rules within an endogenous growth model with productive public capital, utility enhancing public consumption and public debt. We find that a fixed deficit regime does not affect the long run growth rate compared to a balanced budget while the growth rate is increased by a golden rule. Welfare effects are ambiguous. Simulations indicate that economies populated by households who have a strong tendency to smooth consumption should adhere to a balanced budget rather than a golden rule or a fixed deficit rule from a welfare point of view.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesFinanzwissenschaftliche Diskussionsbeiträge / Finanzwissenschaftliches Forschungsinstitut an der Universität zu Köln 08-7en_US
dc.subject.jelE62en_US
dc.subject.jelH63en_US
dc.subject.jelO40en_US
dc.subject.jelH50en_US
dc.subject.jelH62en_US
dc.subject.ddc330en_US
dc.subject.keywordBudget rulesen_US
dc.subject.keywordgolden rule of public financeen_US
dc.subject.keywordfiscal policyen_US
dc.subject.keywordendogenous growthen_US
dc.subject.keywordwelfareen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwHaushaltsdefiziten_US
dc.subject.stwRegelgebundene Politiken_US
dc.subject.stwWirtschaftspolitische Wirkungsanalyseen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwNeue Wachstumstheorieen_US
dc.subject.stwWohlfahrtseffekten_US
dc.subject.stwTheorieen_US
dc.titleA Golden Rule of Public Finance or a Fixed Deficit Regime? Growth and Welfare Effects of Budget Rulesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn582120438en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:uoccpe:7450-
Appears in Collections:FiFo Discussion Papers, Finanzwissenschaftliches Forschungsinstitut, Universität Köln

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