Ardanaz, Martin; Cavallo, Eduardo A.; Izquierdo, Alejandro - 2021
of public investment vis-a-vis public consumption during the fiscal adjustment, with heterogeneous responses growing over … time. When public investment is penalized relative to public consumption and thus, its share in public expenditures …, safeguarding public investment from budget cuts vis-a-vis public consumption can neutralize the contractionary effects of fiscal …