| dc.creator | Venegas Martínez, Francisco | |
| dc.date | 2023-04-10T18:37:40Z | |
| dc.date | 2023-04-10T18:37:40Z | |
| dc.date | 1998 | |
| dc.date.accessioned | 2023-07-21T16:38:16Z | |
| dc.date.available | 2023-07-21T16:38:16Z | |
| dc.identifier | 16534.pdf | |
| dc.identifier | http://hdl.handle.net/11651/5525 | |
| dc.identifier.uri | https://repositorioslatinoamericanos.uchile.cl/handle/2250/7732701 | |
| dc.description | This paper uses a model of endogenous non-scale growth to examine the tradeoff between raising public foreign debt and sustaining growth. It is shown that a tight monetary policy accompanied by an increase in the tax rate on income from capital may be inconsistent with economic growth. In such a case, the economy could instead suffer a recession. The paper also analyzes the effects of distortionary taxes on the perfect foresight equilibrium. The model provides, for the Mexican economy, some insights into the failed trade-off between raising public foreign debt and sustaining growth in 1994, and the sharp fall in growth in 1995 when fiscal and monetary policies, obeying a program of economic adjustment, were inconsistent with a macroeconomic equilibrium with positive growth. | |
| dc.format | application/PDF | |
| dc.format | application/pdf | |
| dc.language | eng | |
| dc.publisher | Centro de Investigación y Docencia Económicas, División de Economía | |
| dc.relation | Documento de trabajo (Centro de Investigación y Docencia Económicas). División de Economía; 112 | |
| dc.rights | El Centro de Investigación y Docencia Económicas A.C. CIDE autoriza a poner en acceso abierto de conformidad con las licencias CREATIVE COMMONS, aprobadas por el Consejo Académico Administrativo del CIDE, las cuales establecen los parámetros de difusión de las obras con fines no comerciales. Lo anterior sin perjuicio de los derechos morales que corresponden a los autores. | |
| dc.rights | Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 International CC BY-NC-ND | |
| dc.subject | Economic development -- Effect of fiscal policy on -- Mathematical models. | |
| dc.title | Endogenous growth, money, taxes and foreign debt | |
| dc.type | Documento de trabajo | |
