This paper examines the quantitative interrelations between sectoral composition of public spending and equilibrium (in)determinacy in a two-sector real business cycle model with positive productive externalities in investment. When government purchases of con- sumption and investment goods are...

This paper examines the quantitative interrelations between sectoral composition of public spending and equilibrium (in)determinacy in a two-sector real business cycle model with positive productive externalities in investment. When government purchases of con- sumption and investment goods are...

This paper introduces health effects in an endogenous growth model with environmental concerns. To highlight the importance of health effects, we examine the time allocation of households in regard to leisure, labor, and health care, which play a crucial role in affecting the impacts of public...