Variability in Models of Endogenous Growth with Productive Spending

  • Dimitrios Varvarigos
  • Published 2005


Existing theoretical analyses have shown that if policy variables affect investment decisions in either physical or human capital then an increase in policy variability results in higher trend output growth as individuals respond to higher uncertainty with a precautionary increase in these types of investment. In this paper I present two models in which… (More)


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