Serrano, Rosina Moreno; Bazo, Enrique Lopez; Ortuno, … - Facultat d'Economia i Empresa, Universitat de Barcelona - 2001
We present a theoretical framework for determining the short- and long-run effects of infrastructure. While the short-run effects have been the focus of most previous studies, here we derive long-run elasticities by taking into account the adjustment of quasi-fixed inputs to their optimum...