Palokangas, Tapio K. (contributor) - 2004 - [Elektronische Ressource]
, and the growth rates of each may also differ.10 On the assumption
that in both economies fiscal policy is chosen to … policy optimized in economy 1},
φ2 .= {φ| ξ = ξ2, fiscal policy optimized in economy 2}.
According to proposition 2, the … maximize the welfare of the
representative family, we can define the economy-specific growth rates as:
φ1 .= {φ| ξ = ξ1, fiscal …