Volatile public spending in a model of money and sustainable growth
In a model where seignorage provides the financing instrument for the government’s budget, public spending volatility has an adverse effect on long-run growth. This negative relationship arises because the incidence of volatility in this type of public policy is responsible for higher average money...
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| Format: | Default Preprint |
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2007
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| Online Access: | https://hdl.handle.net/2134/2973 |
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