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In: Journal of development economics, Band 62, Heft 2, S. 315-342
ISSN: 0304-3878
In: Economica, Band 67, Heft 267, S. 325-346
ISSN: 1468-0335
This paper explores the relationship between aggregate and relativecongestion, returns to scale and economic growth. Aggregate congestionreduces the effective productivity of capital; relative congestion reducesthe effective productivity of labour. Both forms of congestion adverselyaffect the equilibrium growth rate, although their relative effects dependupon aggregate returns to scale. The two forms of congestion havecontrasting effects on the transitional dynamics. Relative congestionretards the rate of adjustment; aggregate congestion accelerates it. Theexternalities generated by congestion and non‐optimal expenditure can befully corrected, both during the transition and in steady state, by atime‐invariant income tax.
In: NBER Working Paper No. w7004
SSRN
Working paper
In: The Canadian Journal of Economics, Band 30, Heft 1, S. 57
In: Journal of international economics, Band 26, Heft 3-4, S. 227-250
ISSN: 0022-1996
In: Journal of Monetary Economics, Band 23, Heft 1, S. 121-133
In: The Economic Journal, Band 96, Heft 383, S. 696
In: Journal of economic dynamics & control, Band 6, S. 1
ISSN: 0165-1889
In: The Economic Journal, Band 93, Heft 371, S. 555
In: Economica, Band 45, Heft 180, S. 422
In: Journal of political economy, Band 85, Heft 2, S. 379-393
ISSN: 1537-534X
In: Economica, Band 42, Heft 167, S. 272
In: INEC-D-21-00508
SSRN
SSRN
In: The CESifo seminar series