Gupta, Rangan; Makena, Philton - In: Economies : open access journal 8 (2020) 1/22, pp. 1-14
We develop an overlapping generations monetary endogenous growth (generated by productive public expenditures) model … that growth dynamics emerge with a S-shaped growth path producing three equilibria. The low and high-growth equilibria are … stable, but locally indeterminate, while the medium-growth equilibrium is unstable. Since, government expenditure is …