Temporal aggregation in a multi-sector economy with endogenous growth

Article Abstract:

The economy's long-term endogenous-growth term rate is protected from temporal-aggregation errors by the property of steady-growth invariance even with the introduction of converging externalities.

Economic Statistics & Research, Statistical Data Included, Research, Economic conditions, Equilibrium (Economics)

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Optimal growth with pollution: how to use pollution permits?

Article Abstract:

A study of the implications of the pollution permits on the optimal economic growth path is presented. The study indicates that lump-sum transfers are adequate for decentralization instead of subsidizing through permits. Permits tend to distort the return on investment.

Scientific Research and Development Services, Development, Economic Programs-Total Govt, Administration of Economic Programs, Economic aspects, Environmental aspects, Environmental permits

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Optimal policy business cycles

Article Abstract:

A simple classical reduced form model in which agents form economically rational expectations indicated that disinflation can be attained at low cost. This will depend if the government prevents gradualism, since large shocks are perfectly expected and do not influence real output aggressively. However, this does not hold true from the results gathered in competitive equilibrium cycles discussed in optimal growth theory.

Intnl Economic Policy, Models, Analysis, Economic policy, International economic relations, Business cycles

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