Resumo

FREIRE, María Jesús. Public Spending and the Effects of Taxes on Endogenous Growth Models with Human Capital. Inv. Econ [online]. 2004, vol.63, n.247, pp.143-170. ISSN 0185-1667.

In the following article, two different kinds of issues are examined in an endogenous growth model using human capital. First, the rates of growth in a Lucas (1988) type economy are analyzed when the government allocates a certain fraction of GDP to education. This is done both in a free market economy as well as in one governed by a social planner. Second, the structure of taxes and optimal subsidies is studied and a Pareto efficient solution is obtained. To obtain these results, dynamic techniques of optimization in continuous time are used with conditions of optimization in a free market economy modified to those with social planning so that shadow prices of both fiscal as well as human capital, coincide.

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