infrastructure, it is reasonable to predict that we will find ourselves back in the same position in another forty years. Moreover …, the use of twentieth-century infrastructure will continue to exacerbate climate change through its large energy costs and … will fail to address the more difficult water management challenges that are likely to occur in a warming world …

This paper quantitatively assesses the macroeconomic effects of the recently agreed U.S. bipartisan infrastructure … types of infrastructure spending and linkages between the final and intermediate goods sectors. We find that infrastructure … multipliers above unity if infrastructure spending and rising public debt are financed by consumption, dividend and labour income …