Quantitative implications of endogenous growth for fluctuation modeling and economic policy evaluation.

Summary In this thesis, we propose to measure the impact of the endogenous growth hypothesis for the modeling of fluctuations and the evaluation of economic policies. First, we show that endogenous growth models are able to pass the Watson (1993) test and reproduce the predictions of a structural VAR. In a second step, we evaluate the welfare impact of a Ramsay optimal taxation policy, a fluctuation stabilization policy or an inflation suppression policy. We show that stabilization policies are significantly more beneficial and inflation suppression policies are significantly less beneficial than previous estimates in the literature on this topic.