Endogenous Time Preference and Endogenous Growth

1994 ◽  
Author(s):  
Howell H. Zee
Keyword(s):  
Endogenous Growth ◽  
Time Preference ◽  
Endogenous Time Preference

scholarly journals Strategic interaction and dynamics under endogenous time preference

2013 ◽  
Vol 49 (4) ◽  
pp. 291-301 ◽  
Author(s):  
Carmen Camacho ◽  
Cagri Saglam ◽  
Agah Turan
Keyword(s):  
Time Preference ◽  
Strategic Interaction ◽  
Endogenous Time Preference

scholarly journals ENDOGENOUS TIME PREFERENCE AND PUBLIC POLICY: GROWTH AND FISCAL IMPLICATIONS

2010 ◽  
Vol 14 (S2) ◽  
pp. 243-257 ◽  
Author(s):  
Evangelos V. Dioikitopoulos ◽  
Sarantis Kalyvitis
Keyword(s):  
Public Policy ◽  
Fiscal Policy ◽  
Time Preference ◽  
Competitive Equilibrium ◽  
Capital Intensity ◽  
Public Capital ◽  
Policy Implications ◽  
Government Size ◽  
Endogenous Time Preference ◽  
The Government

This paper studies the growth and fiscal policy implications of the assumption that public policy generates an externality in the individual rate of time preference through the aggregate public capital stock. We examine the competitive equilibrium properties and we solve for endogenous growth–maximizing fiscal policy. We investigate the behavior of the government size and the growth rate to the sensitivity of time preference to public capital and the magnitude of public capital externality on production. We find that the Barro taxation rule [Barro, Robert J., Journal of Political Economy 98 (1990), 103–125], which states that the elasticity of public capital in the production function should equal the government size, is suboptimal. We show that the government does not necessarily have to increase income taxation following a rise in public capital intensity because of the externality of public capital on time preference and, in turn, on growth and the tax base of the economy.

Inflation Stabilisation with Durable Goods and Endogenous Time Preference*

2010 ◽  
Vol 86 (274) ◽  
pp. 342-351
Author(s):  
ARMAN MANSOORIAN ◽  
MOHAMMED MOHSIN
Keyword(s):  
Durable Goods ◽  
Time Preference ◽  
Endogenous Time Preference
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