Irreversibility, uncertainty and growth

Article Abstract:

The aggregate implications of microeconomic investment irreversibility and idiosyncratic uncertainty, is studied and the ability of irreversibility to endogenously generate differences in firms capital stocks are explored. On the basis of such exploration, a dynamic general equilibrium model with heterogeneous agents is developed.

Capital market, Capital markets

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Are we consuming too much?

Article Abstract:

The outgrowth of discussions, among a group of ecologists and economists, offers an analysis for reconciling the conflicting intuitions. The study examines the criteria for evaluating whether consumption is excessive and identifies factors in the economic and ecological domains that determine its validity.

Consumption (Economics)

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Taxation, risk-taking and growth: a continuous-time stochastic general equilibrium analysis with labor-leisure choice

Article Abstract:

A stochastic dynamic general equilibrium model of the interaction between taxation, risk-taking and capital accumulation is developed. Findings reveal that increasing tax rate on the deterministic component of capital income reduces the mean growth rate while increasing its variance.

United States, Public Finance Activities, Tax Rates

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