Title :
Congested government expenditure in a stochastic endogenous growth model with production and consumption features
Author :
Yang, Bo ; Chen, Xueguang
Author_Institution :
Department of control science and technology, Huazhong University of Science and Technology, Wuhan, Hubei, China
Abstract :
In this paper, we discuss the continuous-time stochastic endogenous growth model with congestion. And we consider tow cases: one is that congestion has production utility, the second is that congestion has welfare utility. With this model, we demonstrate and analyze the macroeconomic effects of government expenditure and its volatility on economic growth and individual propensity to consume.
Keywords :
congested government expenditure; stochastic endogenous growth model;
Conference_Titel :
Modelling, Identification & Control (ICMIC), 2012 Proceedings of International Conference on
Conference_Location :
Wuhan, Hubei, China
Print_ISBN :
978-1-4673-1524-1
