Auteur Patrick Villieu
Documents disponibles écrits par cet auteur (30)
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Article : Revues - Articles
In this paper, we look for long-run and short-run effects of fiscal deficits on economic growth and welfare in a standard endogenous growth model. We show that, under very general hypotheses, the 'golden rule of public finance', which allows a g[...]
Working Paper
Menuet, Maxime ; Alexandru Minea ; Patrick Villieu | 2019In a seminal contribution, Schmitt-Grohé and Uribe (JPE, 1997), showed that the balanced-budget rule (BBR) produces aggregate instability in an exogenous growth model with labor tax-based adjustment. The present paper challenges this result in a[...]
Article : Revues - Articles
In a very interesting endogenous growth model, Futagami, Iwaisako, and Ohdoi [Macroeconomic Dynamics 12 (2008), 445-462] study the long-run growth effect of borrowing for public investment. Their model exhibits (i) the ltiplicity of balanced gro[...]
Article : Revues - Articles
Hélène Ehrhart, Auteur ; Alexandru Minea, Auteur ; Patrick Villieu, Auteur |The endogenous growth literature established the existence of an inverted-U curve between taxes and economic growth, namely a Growth Laffer Curve, but empirical evidence on this relationship in developing countries is rather limited. Given that [...]
Article : Revues - Articles
This paper develops an original analysis of deficit monetization in a growth model with transaction costs, in which economic growth interacts with productive public expenditures. This interaction generates two positive balanced growth paths (BGP[...]
Working Paper
Menuet, Maxime ; Alexandru Minea ; Patrick Villieu | Orléans : Laboratoire d’économie d’Orléans | Document de recherche | 2015In response to the Great Recession, Central Banks around the world adopted " unconven-tional " monetary policies. In particular, the Fed, and more recently the ECB, launched massive debt monetization programs. In this paper, we develop a formal [...]
Working Paper
In response to the Great Recession, Central Banks around the world adopted " unconven-tional " monetary policies. In particular, the Fed, and more recently the ECB, launched massive debt monetization programs. In this paper, we develop a formal [...]
Working Paper
Hélène Ehrhart ; Alexandru Minea ; Patrick Villieu | Clermont-Ferrand : Centre d'études et de recherches sur le développement international (Cerdi) | Études et Documents Cerdi, ISSN 2114-7957 | 2009The endogenous growth literature has established the existence of an inverted-U curve between taxes and economic growth, namely a Growth Laffer Curve (GLC). We develop a growth model with public investment as the engine of perpetual growth, and [...]
Article : Revues - Articles
Alexandru Minea, Auteur ; Patrick Villieu, Auteur |Dans cet article, nous nous intéressons aux effets des déficits publics sur la croissance, dans un modèle de croissance endogène avec investissement public pouvant être financé par impôt ou dette publique. Nous nous focalisons sur la croissance [...]
Article : Revues - Articles
Jean-Louis Combes, Auteur ; Pascale Combes-Motel, Auteur ; Alexandru Minea, Auteur ; Patrick Villieu, Auteur |Most of countries covered by natural forests are developing countries, with limited ability to levy taxes and restrained access to international credit markets. Consequently, they are amenable to draw heavily on two sourcesof government financin[...]
Working Paper
Jean-Louis Combes, Auteur ; Pascale Combes-Motel, Auteur ; Alexandru Minea, Auteur ; Patrick Villieu, Auteur | Clermont-Ferrand : Centre d'études et de recherches sur le développement international (Cerdi) | Études et Documents Cerdi, ISSN 2114-7957 | 2013Most of countries covered by natural forests are developing countries, with limited ability to levy taxes and restrained access to international credit markets; consequently, they are amenable to draw heavily on two sources of government financi[...]
Working Paper
Alexandru Minea ; Patrick Villieu | Orléans : Laboratoire d’économie d’Orléans | Document de recherche | 2011EN: We develop a simple theoretical growth model to deal with long term public debt, in accordance to stylized facts. We study the effect of a permanent increase in public debt on economic growth, and show that these effects, always negative (or[...]
Article : Revues - Articles
Dans les analyses empiriques, la "qualité institutionnelle" semble être une variable déterminante pour établir le sens de la relation entre finance et croissance. Ainsi, Demetriades & Law (2004) montrent que le développement financier exerce un [...]
Working Paper
Jean-Louis Combes, Auteur ; Pascale Combes-Motel, Auteur ; Alexandru Minea, Auteur ; Patrick Villieu, Auteur | Clermont-Ferrand : Centre d'études et de recherches sur le développement international (Cerdi) | Études et Documents Cerdi, ISSN 2114-7957 | 2010The forest still covers an important share of land area in many developing countries and represents an important source of revenue for governments. Another major contribution to government revenues comes from printing money, namely the seigniora[...]
Working Paper
The present paper develops a simple theoretical setup to examine the role of the tax-spending mix of fiscal adjustments on aggregate (in)stability in indebted economies. To this end, we build an AK endogenous growth model with public debt dynami[...]
