Exchange rate and tax policies in an economic development model with public capital

公開日:2017.11.30

発行日
2017年09月
概要
 The purpose of this study is to examine the effects of exchange rate and tax policies on economic growth in a model of economic growth with public infrastructures. Public infrastructure, such as roads, airports, bridges, ports and electricity, gas and water services, is, in general, considered to have a positive influence on economic activities and there have been several empirical studies to evaluate this positive impact. On the basis of these preceding works, our present study provides a model of economic development in which public infrastructure enhances productivity. Our analysis shows that wage flexibility affects economic stability. Specifically, we find that there exists a threshold value in the degree of wage flexibility; that the stationary point is unstable or stable, respectively, when the degree is less than or more than the threshold value; that cyclical fluctuations arise when the degree is suficiently close to the threshold value.
キーワード

Public capital

Economic development

Exchange rate policy

Tax policy

文献等

掲載誌名・書名:

IERCU Discussion Paper, No.283

公開者・出版社:

経済研究所

種類
紀要
言語
英語
権利情報
この資料の著作権は、資料の著作者または学校法人中央大学に帰属します。著作権法が定める私的利用・引用を超える使用を希望される場合には、掲載誌発行部局へお問い合わせください。

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