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Choosing Size of Government Under Ambiguity: Infrastructure Spending and Income Taxation

Manski, Charles - National Bureau of Economic Research (NBER) - 2012

Attempting to shed light on the optimal size of government, economists have analyzed planning problems that specify a set of feasible taxation-spending policies and a social welfare function. The analysis characterizes the optimal policy choice of a planner who knows the welfare achieved by each...

Persistent link: https://www.econbiz.de/10011262791

Review of literature on the productivity of public capital

Hamalainen, Pellervo - 2009

This paper summarizes previous results on the productivity of public capital. In recent literature, Aschauer's (1989) estimate for the productivity of public capital is often considered too high and the size of the effect is still open to debate. However, the positive effect of public capital on...

Persistent link: https://www.econbiz.de/10012503009

Bureaucracy, Infrastructure, and Economic Growth: Evidence from U.S. Cities During the Progressive Era

Rauch, James E. - National Bureau of Economic Research (NBER) - 1994

Recent work in the sociology of economic development has emphasized the establishment of a professional bureaucracy in place of political appointees as an important component of the institutional environment in which private enterprise can flourish. I hypothesize that establishment of such a...

Persistent link: https://www.econbiz.de/10005778792

Aid Volatility and Poverty Traps

Agénor, Pierre-Richard; Aizenman, Joshua - National Bureau of Economic Research (NBER) - 2007

This paper studies the impact of aid volatility in a two-period model where production may occur with either a traditional or a modern technology. Public spending is productive and "time to build" requires expenditure in both periods for the modern technology to be used. The possibility of a...

Persistent link: https://www.econbiz.de/10005575789

Managing Public Investment Funds: Best Practices and New Challenges

Mitchell, Olivia; Piggott, John; Kumru, Cagri - National Bureau of Economic Research (NBER) - 2008

Large publicly-held pools of assets are playing an increasingly prominent role in the global investment arena. We compare three distinct forms of such public funds, namely foreign exchange reserve funds, sovereign wealth funds, and public pension funds, to highlight their differences and...

Persistent link: https://www.econbiz.de/10005579916

Private Investment and Government Protection

Luttmer, Erzo F.P.; Zeckhauser, Richard; Kousky, Carolyn - National Bureau of Economic Research (NBER) - 2006

Hurricane Katrina did massive damage because New Orleans and the Gulf Coast were not appropriately protected. Wherever natural disasters threaten, the government -- in its traditional role as public goods provider -- must decide what level of protection to provide to an area. It does so by...

Persistent link: https://www.econbiz.de/10005084856

The Basic Public Finance of Public-Private Partnerships

Engel, Eduardo M.R.A.; Fischer, Ronald David; … - National Bureau of Economic Research (NBER) - 2007

Public-private partnerships (PPPs) cannot be justified because they free public funds. When PPPs are justified on efficiency grounds, the contract that optimally balances demand risk, user-fee distortions and the opportunity cost of public funds, features a minimum revenue guarantee and a...

Persistent link: https://www.econbiz.de/10005714794

Factions and Political Competition

Persico, Nicola; Silverman, Dan; Rodríguez-Pueblita, … - National Bureau of Economic Research (NBER) - 2007

This paper presents a new model of political competition where candidates belong to factions. Before elections, factions compete to direct local public goods to their local constituencies. The model of factional competition delivers a rich set of implications relating the internal organization...

Persistent link: https://www.econbiz.de/10005718155

Impacts of subsidized credit on the optimum level of post-crisis investment of Brazilian firms

Alves, Patrick Franco; Silva, Ludmilla Lorrany Mattos; … - 2018

Firms' investment decisions involve analyzing prices, products, technologies, productive capacity and the availability of credit. These and other factors were greatly impacted by the 2009 post-crisis economic environment in Brazil. We measure the after crisis impacts of subsidized credit on the...

Persistent link: https://www.econbiz.de/10012061259

Offshoring, Relocation and the Speed of Convergence: Convergence in the Enlarged European Union

Alho, Kari E. O.; Kaitila, Ville; Widgrén, Mika - 2008

Economic convergence of the new member states (NMS) of the EU towards the old EU countries (EU-15), not only in terms … indebtedness. At the same time we evaluate the impact of convergence on the EU-15 countries also, by endogenising offshoring and … process of convergence. We find that in a general equilibrium setting fears of large adverse effects of a relocation of EU-15 …

Persistent link: https://www.econbiz.de/10012502995