Kellermann, Kersten; Schlag, Carsten-Henning - In: Wirtschaftsdienst 101 (2021) 12, pp. 964-970
The fact that long-term interest rates are below the GDP growth rates in economies like Switzerland, Germany and the …. However, this fiscal remedy assumes that the marginal net productivity of capital is equal to the interest rate. Evidence … shows that this requirement does not apply. The marginal productivity of private and public capital has not been following …