Overaccumulation, public debt, and the importance of land : conference paper

Homburg, Stefan

In recent contributions, Weizs cker (2014) and Summers (2014) maintain that mature economies accumulate too much capital. They suggest large and lasting public deficits as a remedy. This paper argues that overaccumulation cannot occur in an economy with land. It presents novel data of aggregate land values, analyzes the issue in a stochastic framework, and conducts an empirical test of overaccumulation.

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Year of publication:	2014 ; Final version April 2014
Authors:	Homburg, Stefan
Published in:	Beiträge zur Jahrestagung des Vereins für Socialpolitik 2014: Evidenzbasierte Wirtschaftspolitik Session: Capital accumulation ; V3
Publisher:	[Kiel : ZBW
Subject:	Dynamic efficiency \| overaccumulation \| land \| fiscal policy \| public debt \| Neoklassische Synthese \| Neoclassical synthesis \| Öffentliche Schulden \| Public debt \| Finanzpolitik \| Fiscal policy \| USA \| United States

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Extent:	Online-Ressource (27 S.) graph. Darst.
Series:	Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät / Wirtschaftswissenschaftliche Fakultät, Universität Hannover : Hannover economic papers (HEP). - Hannover : Wirtschaftswiss. Fak., Univ., ZDB-ID 2120102-X. - Vol. 525
Conferences:	Jahrestagung des Vereins für Socialpolitik: Evidenzbasierte Wirtschaftspolitik ; 2014
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Konferenzschrift ; Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/100431 [Handle]
Classification:	D92 - Intertemporal Firm Choice and Growth, Investment, or Financing ; E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; H63 - Debt; Debt Management
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010485273