| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 967195 | Journal of Monetary Economics | 2012 | 16 Pages |
Abstract
⺠In an endogenous growth model, growth depends on innovation's value. ⺠With robustness preferences, innovation's value depends on both risk and uncertainty. ⺠Fiscal policies promoting short-run stabilization decrease uncertainty. ⺠Fiscal policies promoting short-run stabilization increase long-run risk. ⺠Ultimately, short-run oriented fiscal policies depress long-run growth.
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Authors
Mariano M. Croce, Thien T. Nguyen, Lukas Schmid,