2003 | OriginalPaper | Chapter
Three Theoretical Achievements
Authors : Mario Baldassarri, Francesco Busato
Published in: Full Employment and High Growth in Europe
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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One of the main issues of economic theory has always been the role and the impact of the government budget and fiscal policies on both individual decisions of families and businesses (microeconomic effects) and on the overall state of the economic system (macroeconomic effects). The first topic we’ll address concerns the results obtained through economic theory regarding the relations between size, composition of the government budget, and development of an economic system. To be complete, we’ll analyze the problem first from the standpoint of neoclassical theory, and then in the context of endogenous growth models