Macroeconomic (in)stability and endogenous market structure with productive government expenditure

References

Agénor, P. R. 2008. “Fiscal Policy and Endogenous Growth with Public Infrastructure.” Oxford Economic Papers 60: 57–87.10.1093/oep/gpm018Search in Google Scholar

Aschauer, D. A. 1989. “Is Public Expenditure Productive?” Journal of Monetary Economics 23: 177–200.10.1016/0304-3932(89)90047-0Search in Google Scholar

Barro, R. J. 1990. “Government Spending in a Simple Model of Endogenous Growth.” Journal of Political Economy 98: 103–125.10.3386/w2588Search in Google Scholar

Barro, R. J. 1997. Macroeconomics, 5^th ed. Cambridge, MA: MIT Press.Search in Google Scholar

Barro, R. J., and X. Sala-i-Martin. 1992. “Public Finance in Models of Economic Growth.” Review of Economic Studies 59: 645–661.10.3386/w3362Search in Google Scholar

Basu, S., and J. G. Fernald. 1997. “Returns to Scale in U.S. Production: Estimates and Implications.” Journal of Political Economy 105: 249–283.10.1086/262073Search in Google Scholar

Baxter, M., and R. G. King. 1993. “Fiscal Policy in General Equilibrium.” American Economic Review 83: 315–334.Search in Google Scholar

Bénassy, J. P. 1996. “Monopolistic Competition, Increasing Returns to Specialization and Output Persistence.” Economics Letters 52: 187–191.10.1016/S0165-1765(96)00856-7Search in Google Scholar

Benhabib, J., and R. Farmer. 1994. “Indeterminacy and Increasing Returns.” Journal of Economic Theory 63: 19–41.10.1006/jeth.1994.1031Search in Google Scholar

Benhabib, J., and R. Farmer. 1996. “Indeterminacy and Sector-specific Externalities.” Journal of Monetary Economics 37: 421–443.10.1016/0304-3932(96)01257-3Search in Google Scholar

Bernanke, B., and M. Parkinson. 1991. “Procyclical Labor Productivity and Competing Theories of the Business Cycle: Some Evidence from Interwar U.S. Manufacturing Industries.” Journal of Political Economy 99: 439–459.10.3386/w3503Search in Google Scholar

Brito, P., and H. Dixon. 2013. “Fiscal Policy, Entry and Capital Accumulation: Hump-shaped Responses.” Journal of Economic Dynamics and Control 37: 2123–2155.10.1016/j.jedc.2013.03.005Search in Google Scholar

Buiter, W. H. 1984. “Saddlepoint Problems in Continuous Time Rational Expectations Models: A General Method and Some Macroeconomic Examples.” Econometrica 52: 665–680.10.2307/1913470Search in Google Scholar

Burmeister, E. 1980. “On Some Conceptual Issues in Rational Expectations Modeling.” Journal of Money, Credit and Banking 12: 800–816.10.2307/1992035Search in Google Scholar

Burnside, C. 1996. “Production Function Regressions, Returns to Scale, and Externalities.” Journal of Monetary Economics 37: 177–201.10.1016/S0304-3932(96)90033-1Search in Google Scholar

Burnside, C., M. Eichenbaum, and S. Rebero. 1995. “Capital Utilization and Returns to Scale.” NBER working paper no.5125.10.3386/w5125Search in Google Scholar

Chang, J. J., H. W. Hung, J. Y. Shieh, and C. C. Lai. 2007. “Optimal Fiscal Policies, Congestion and Over-entry.” Scandinavian Journal of Economics 109: 137–151.10.1111/j.1467-9442.2007.00484.xSearch in Google Scholar

Chang, J. J., H. W. Hung, and C. C. Huang. 2011. “Monopoly Power, Increasing Returns to Variety, and Local Indeterminacy.” Review of Economic Dynamics 14: 384–388.10.1016/j.red.2009.10.007Search in Google Scholar

Coto-Martínez, J. 2006. “Public Capital and Imperfect Competition.” Journal of Public Economics 90: 349–378.10.1016/j.jpubeco.2004.10.004Search in Google Scholar

De Santis, R., and F. Stahler. 2004. “Endogenous Market Structures and the Gains from Foreign Direct Investment.” Journal of International Economics 64: 545–565.10.1016/j.jinteco.2003.08.008Search in Google Scholar

Devereux, M. B., A. C. Head, and B. L. Lapham. 1996. “Aggregate Fluctuations with Increasing Returns to Specialization and Scale.” Journal of Economic Dynamics and Control 20: 627–656.10.1016/0165-1889(95)00868-3Search in Google Scholar

Dewan, S., and K. L. Kraemer. 2000. “Information Technology and Productivity: Evidence from Country-level Data.” Management Science 46: 548–562.10.1287/mnsc.46.4.548.12057Search in Google Scholar

Dioikitopoulos, E. V., and S. Kalyvitis. 2008. “Public Capital Maintenance and Congestion: Long-run Growth and Fiscal Policies.” Journal of Economic Dynamics and Control 32: 3760–3779.10.1016/j.jedc.2008.04.001Search in Google Scholar

Dixon, H. 1987. “A Simple Model of Imperfect Competition with Walrasian Features.” Oxford Economic Papers 39: 134–160.10.1093/oxfordjournals.oep.a041774Search in Google Scholar

Dos Santos Ferreira, R., and T. Lloyd-Braga. 2008. “Business Cycles with Free Entry Ruled by Animal Spirits.” Journal of Economic Dynamics and Control 32: 3502–3519.10.1016/j.jedc.2007.06.018Search in Google Scholar

Eden, M., and A. Kraay. 2014. “Crowding in” and the Returns to Government Investment in Low-income Countries, The World Bank, Policy Research working paper series: 6781.10.1596/1813-9450-6781Search in Google Scholar

Eicher, T., and S. J. Turnovsky. 2000. “Scale, Congestion and Growth.” Economica 67: 325–346.10.1111/1468-0335.00212Search in Google Scholar

Etro, F. 2014. “The Theory of Endogenous Market Structures.” Journal of Economic Surveys 28: 804–830.10.1111/joes.12020Search in Google Scholar

Etro, F., and A. Colciago. 2010. “Endogenous Market Structures and the Business Cycle.” Economic Journal 120: 1201–1233.10.1007/978-3-540-87427-0_3Search in Google Scholar

Ford, R., and P. Poret. 1991. Infrastructure and Private-sector Productivity, OECD working paper no. 91.Search in Google Scholar

Getachew, Y. Y., and S. J. Turnovsky. 2015. “Productive Government Spending and Its Consequences for the Growth-inequality Tradeoff.” Research in Economics 69: 621–640.10.1016/j.rie.2015.09.001Search in Google Scholar

Gokan, Y. 2013. “Income Taxes and Endogenous Fluctuations: A Generalization.” Studies in Nonlinear Dynamics and Econometrics 17: 461–482.10.1515/snde-2012-0032Search in Google Scholar

Gómez, M. A. 2008. “Fiscal Policy, Congestion, and Endogenous Growth.” Journal of Public Economic Theory 10: 595–622.10.1111/j.1467-9779.2008.00378.xSearch in Google Scholar

Gómez, M. A., and T. N. Sequeira. 2012. “The Transitional Dynamics of an Endogenous Growth Model: Generalizing Production Functions.” Studies in Nonlinear Dynamics and Econometrics 16: 1–27.10.1515/1558-3708.1937Search in Google Scholar

Hansen, G. D. 1985. “Indivisible Labor and the Business Cycle.” Journal of Monetary Economics 16: 309–327.10.4324/9780203070710.pt3Search in Google Scholar

Harrison, S., and M. Weder. 2000. “Indeterminacy in a Model with Aggregate and Sector-specific Externalities.” Economics Letters 69: 173–179.10.1016/S0165-1765(00)00294-9Search in Google Scholar

Hornstein, A. 1993. “Monopolistic Competition, Increasing Returns to Scale, and the Importance of Productivity Shocks.” Journal of Monetary Economics 31: 299–316.10.1016/0304-3932(93)90050-PSearch in Google Scholar

Inkaar, R. 2007. “Cyclical Productivity in Europe and the United States: Evaluating the Evidence on Returns to Scale and Input Utilization.” Economica 74: 822–841.10.1111/j.1468-0335.2006.00554.xSearch in Google Scholar

Kim, J. 2004. “What Determines Aggregate Returns to Scale?” Journal of Economic Dynamics and Control 28: 1577–1594.10.1016/S0165-1889(03)00096-4Search in Google Scholar

Lewis, V. 2009. “Business Cycle Evidence on Firm Entry.” Macroeconomic Dynamics 13: 605–624.10.1017/S1365100509080250Search in Google Scholar

Lewis, V., and M. Roth. 2016. Interest Rate Rules under Financial Dominance, working paper.10.2139/ssrn.2610575Search in Google Scholar

Ljungqvist, L., and H. Uhlig. 2000. “Tax Policy and Aggregate Demand Management under Catching Up with the Joneses.” American Economic Review 90: 356–366.10.1257/aer.90.3.356Search in Google Scholar

Meng, Q., and C. K. Yip. 2008. “On Indeterminacy in One-sector Models of the Business Cycle with Factor-generated Externalities.” Journal of Macroeconomics 30: 97–110.10.1016/j.jmacro.2007.02.003Search in Google Scholar

Mittal, N., and B. R. Nault. 2009. “Investments in Information Technology: Indirect Effects and Information Technology Intensity.” Information Systems Research 20: 140–154.10.1287/isre.1080.0186Search in Google Scholar

OECD. 2003. The Sources of Economic Growth in OECD Countries. Paris: OECD.Search in Google Scholar

Ott, J., and S. J. Turnovsky. 2006. “Excludable and Non-excludable Public Inputs: Consequences for Economic Growth.” Economica 73: 725–748.10.1111/j.1468-0335.2006.00506.xSearch in Google Scholar

Palivos, T., C. K. Yip, and J. Zhang. 2003. “Transitional Dynamics and Indeterminacy of Equilibria in an Endogenous Growth Model with a Public Input.” Review of Development Economics 7: 86–98.10.1111/1467-9361.00177Search in Google Scholar

Pavlov, O., and M. Weder. 2012. “Variety Matters.” Journal of Economic Dynamics and Control 36: 629–641.10.1016/j.jedc.2011.12.003Search in Google Scholar

Peretto, P. 1996. “Sunk Costs, Market Structure, and Growth.” International Economic Review 37: 895–923.10.2307/2527316Search in Google Scholar

Peretto, P. 1999. “Cost Reduction, Entry, and the Interdependence of Market Structure and Economic Growth.” Journal of Monetary Economics 43: 173–195.10.1016/S0304-3932(98)00040-3Search in Google Scholar

Pintea, M. I., and S. J. Turnovsky. 2006. “Congestion and Fiscal Policy in a Two-sector Economy with Public Capital: A Quantitative Assessment.” Computational Economics 28: 177–209.10.1007/s10614-006-9038-2Search in Google Scholar

Rogerson, R. 1988. “Indivisible Labor, Lotteries and Equilibrium.” Journal of Monetary Economics 21: 3–16.10.1016/0304-3932(88)90042-6Search in Google Scholar

Schmitt-Grohé, S., and M. Uribe. 1997. “Balanced-budget Rules, Distortionary Taxes, and Aggregate Instability.” Journal of Political Economy 105: 976–1000.10.1086/262101Search in Google Scholar

Startz, R. 1989. “Monopolistic Competition as a Foundation for Keynesian Macroeconomic Models.” Quarterly Journal of Economics 104: 737–752.10.2307/2937865Search in Google Scholar

Thompson, E. A. 1974. “Taxation and National Defense.” Journal of Political Economy 82: 755–782.10.1086/260232Search in Google Scholar

Turnovsky, S. J. 1996. “Optimal Tax, Debt, and Expenditure Policies in a Growing Economy.” Journal of Public Economics 60: 21–44.10.1016/0047-2727(95)01519-1Search in Google Scholar

Turnovsky, S. J. 2000. Methods of Macroeconomic Dynamics, 2^nd ed. Cambridge, MA: MIT Press.Search in Google Scholar

Wen, Y. 1998. “Capacity Utilization under Increasing Returns to Scale.” Journal of Economic Theory 81: 7–36.10.1006/jeth.1998.2412Search in Google Scholar

Wylie, P. J. 1996. “Infrastructure and Canadian Economic Growth 1946–1991.” Canadian Journal of Economics 29: 350–355.10.2307/136015Search in Google Scholar

Xiao, W. 2008. “Increasing Returns and the Design of Interest Rate Rules.” Macroeconomic Dynamics 12: 22–49.10.1017/S1365100507060336Search in Google Scholar