| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5120 |
| 来源ID | Working Paper 5120 |
| Capital Mobility, Fiscal Policy and Growth under Self-Financing of Human Capital Formation | |
| Willem H. Buiter; Kenneth M. Kletzer | |
| 发表日期 | 1995-05-01 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | This paper considers the effects of fiscal and financial policy on economic growth in open and closed economies, when human capital formation by young households is constrained by the illiquidity of human wealth. Both endogenous and exogenous growth versions of the basic OLG model are analyzed. We find that intergenerational redistribution policies that discourage physical capital formation may encourage human capital formation. Despite common technologies and perfect international mobility of financial capital, the non- tradedness of human capital and the illiquidity of human wealth make for persistent differences in productivity growth rates (in the endogenous growth version of the model) or in their levels (in the exogenous growth version). We also consider the productivity growth (or level) effects of public spending on education and of the distortionary taxation of financial asset income. |
| 主题 | International Economics ; International Factor Mobility ; Macroeconomics ; Fiscal Policy |
| URL | https://www.nber.org/papers/w5120 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562556 |
| 推荐引用方式 GB/T 7714 | Willem H. Buiter,Kenneth M. Kletzer. Capital Mobility, Fiscal Policy and Growth under Self-Financing of Human Capital Formation. 1995. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5120.pdf（559KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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