Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/27680 
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dc.contributor.authorGroneck, Maxen
dc.date.accessioned2009-08-12T07:39:42Z-
dc.date.available2009-08-12T07:39:42Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aFinanzwissenschaftliches Forschungsinstitut an der Universität zu Köln (FiFo Köln) |cKöln en
dc.relation.ispartofseries|aFiFo-CPE Discussion Paper |x08-7en
dc.subject.jelE62en
dc.subject.jelH63en
dc.subject.jelO40en
dc.subject.jelH50en
dc.subject.jelH62en
dc.subject.ddc330en
dc.subject.keywordBudget rulesen
dc.subject.keywordgolden rule of public financeen
dc.subject.keywordfiscal policyen
dc.subject.keywordendogenous growthen
dc.subject.keywordwelfareen
dc.subject.stwFinanzpolitiken
dc.subject.stwHaushaltsdefiziten
dc.subject.stwRegelgebundene Politiken
dc.subject.stwWirtschaftspolitische Wirkungsanalyseen
dc.subject.stwWirtschaftswachstumen
dc.subject.stwNeue Wachstumstheorieen
dc.subject.stwWohlfahrtseffekten
dc.subject.stwTheorieen
dc.titleA Golden Rule of Public Finance or a Fixed Deficit Regime? Growth and Welfare Effects of Budget Rules-
dc.typeWorking Paperen
dc.identifier.ppn582120438en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:uoccpe:7450en

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