The endogenous growth literature established the existence of an inverted-U curve between taxes and economic growth, namely a Growth Laffer Curve, but empirical evidence on this relationship in developing countries is rather limited. Given that seigniorage and public debt are also important...

The paper is concerned with the evolution of public finance in central and eastern Europe countries (CEEC) since the beginning of the 2000s, focusing on its growth effects. We first present some theoretical points studying the impact of fiscal policy on growth. Then, a data analysis...

This paper presents a simple endogenous growth model in which the financial sector improves the efficiency of the savings transformation into investment. The model suggests that multiple endogenous growth paths can exist and the possibility of non-linear relationship between financial...

This paper analyzes the role of financial intermediation in a simple endogenous growth model. The results suggest that multiple endogenous growth paths can exist in connection with various levels of financial development, due to the reciprocal externality between financial and real sectors....

In a growth model à la Sidrauski [1967], the connection between the growth rate of money and capital accumulation is investigated with a CES utility function. It is seen to depend on the cross derivative of the utility function ( ). The analysis provides a simple explanation of Fisher...

Is fiscal coordination a necessary complement of EMU Enlargement? Or may enlargement of the Monetary Union be an efficient substitute for fiscal coordination? In a simple monetary-fiscal policy game, Monetary Union enlargement has two opposite effects: 1) Optimal inflation is higher on average,...

We extend the [Barro, R., 1990. Government spending in a simple model of economic growth. Journal of Political Economy 98, 103-125] model to money financing of public expenditures, in a setup where money demand is motivated by a "transaction cost" technology, exhibiting the "cash-in-advance"...