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Mathematical Finance Letters ISSN 2051-2929

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Math. Finance Lett. 2014 (2014), Article ID 5

Distortionary taxes and global indeterminacy in an endogenous growth model with elastic labor supply

Giovanni Bella

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Abstract

This paper describes the global properties of the Ben-Gad (2013) economy where goverment public spending is financed by a distortionary taxation, in an endogenous growth framework with sector specific external effects. The application of the original Bogdanov-Takens theorem allows us to characterize the regions of the parametric space where the model exhibits a global indeterminate equilibrium and a low-growth trapping region.

Published
22 July 2014
Volume
2014 (2014)
License
CC BY 3.0

Copyright © 2014 Giovanni Bella. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Cite this article

G. Bella, Distortionary taxes and global indeterminacy in an endogenous growth model with elastic labor supply, Math. Finance Lett. 2014 (2014), 5.

BibTeX
@article{Bella2014,
  author  = {Bella, Giovanni},
  title   = {Distortionary taxes and global indeterminacy in an endogenous growth model with elastic labor supply},
  journal = {Math. Finance Lett.},
  volume  = {2014},
  year    = {2014},
  pages   = {5},
  doi     = {}
}