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| Author: | Devereux, M.B. Head, A.C. Lapham, B.J. |
| Title: | Goverment spending and welfare with returns to specialization |
| Journal: | Scandinavian Journal of Economics
2000 : VOL. 102:4, p. 547-561 |
| Index terms: | CONSUMPTION MONOPOLY PUBLIC FINANCE SPECIALIZATION WELFARE |
| Language: | eng |
| Abstract: | The authors explore the novel channel through which government spending can stimulate consumption and welfare through its effects on aggregate productivity, without directly affecting either utility or production possibilities. In the presence of monopolistic competition and increasing returns to spezialization, it is shown that government spending can partly alleviate the inefficiencies of monopolistic competition. |
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