Indeterminacy and utility-generating government spending under balanced-budget fiscal policies

Maebayashi, Noritaka; Hori, Takeo

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論文情報

タイトル	Indeterminacy and utility-generating government spending under balanced-budget fiscal policies
著者	Maebayashi, Noritaka Maebayashi, Noritaka
著者	Hori, Takeo Hori, Takeo
キーワード等	utility-generating public spending
	indeterminacy
	balanced-budget rule
抄録	We reexamine indeterminacy and utility-generating public spending under balancedbudget rules in a simple one-sector growth model. The introduction of consumption tax (subsidy) as well as subsidies for savings and labor modify indeterminacy conditions in the existing studies. We show that if consumption subsidies and income taxes exist, indeterminacy occurs even when private and public consumption are Edgeworth substitutes and public spending and leisure are separable in the utility function. Indeterminacy also occurs even when they are weak Edgeworth complements if consumption tax and subsidies for savings and labor are present. Surprisingly, when they are strong Edgeworth complements, the stronger external effects of public consumption tend to lower the possibility of equilibrium indeterminacy in the presence of consumption tax.
公開者	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
掲載誌名	Discussion Papers In Economics And Business
巻	13-13
開始ページ	1
終了ページ	22
刊行年月	2013-07
URL	http://hdl.handle.net/11094/25136
関連情報 (references)	http://www2.econ.osaka-u.ac.jp/library/global/dp/1313.pdf
言語	英語

著者版フラグ	none
NII資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
dcmi資源タイプ	text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business.13-13 P.1-P.22
DC.title	Indeterminacy and utility-generating government spending under balanced-budget fiscal policies
DC.creator	Maebayashi, Noritaka
DC.creator	Hori, Takeo
DC.publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
DC.language" scheme="DCTERMS.RFC1766	英語
DCTERMS.issued" scheme="DCTERMS.W3CDTF	2013-07
DC.identifier" scheme="DCTERMS.URI	http://hdl.handle.net/11094/25136
DC.subject	utility-generating public spending
	indeterminacy
	balanced-budget rule
DCTERMS.abstract	We reexamine indeterminacy and utility-generating public spending under balancedbudget rules in a simple one-sector growth model. The introduction of consumption tax (subsidy) as well as subsidies for savings and labor modify indeterminacy conditions in the existing studies. We show that if consumption subsidies and income taxes exist, indeterminacy occurs even when private and public consumption are Edgeworth substitutes and public spending and leisure are separable in the utility function. Indeterminacy also occurs even when they are weak Edgeworth complements if consumption tax and subsidies for savings and labor are present. Surprisingly, when they are strong Edgeworth complements, the stronger external effects of public consumption tend to lower the possibility of equilibrium indeterminacy in the presence of consumption tax.
citation_title	Indeterminacy and utility-generating government spending under balanced-budget fiscal policies
citation_author	Maebayashi, Noritaka
citation_author	Hori, Takeo
citation_publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
citation_language	英語
citation_date	2013-07
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	13-13
citation_firstpage	1
citation_lastpage	22
citation_public_url	http://hdl.handle.net/11094/25136
citation_keywords	utility-generating public spending
	indeterminacy
	balanced-budget rule

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