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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

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

Intergenerational Mobility and Macroeconomic History Dependence

Mokherjee, Dilip; Napel, Stefan - 2006

dynamics to fail to converge, but convergence can be restored in the presence of sufficient inertia or occupation switching …

Persistent link: https://www.econbiz.de/10012502955

Optimal Economic Growth Using Fiscal and Monetary Policies

Bougrine, Hassan; Rakkolainen, Teppo A. - 2009

The literature on growth theory is rich with models attempting to explain growth differences among countries. Several variables have been proposed many of which were found to be positively related to growth. However, a major problem with these models is that the factors explaining growth are...

Persistent link: https://www.econbiz.de/10012503004

The long-term effects of alcohol availability on mortality: Evidence from an alcohol reform

Salokangas, Henri - 2016

I examine the long-term mortality effects of an exogenous shock in alcohol availability using Census data, mortality data and data on distance to alcohol outlets. In 1969, Finland underwent significant changes in alcohol availability both via Minimum Legal Drinking Age (MLDA) and distribution...

Persistent link: https://www.econbiz.de/10012503068

The fiscal multiplier: positive or negative?

Tervala, Juha - 2009

This study examines whether the fiscal multiplier can be negative for certain types of government spending. The key result is that the fiscal multiplier can be negative if there is a high degree of substitutability between private and government consumption and government consumption is...

Persistent link: https://www.econbiz.de/10012503008

Public debt is always toxic to economic growth

Hukkinen, Juhana; Viren, Matti - 2013

This paper deals with the debt-growth relationship using several time-series tools. The idea is to find out whether the inverse relationship between these variable can be detected without imposing any functional forms for the estimating relationship and whether the relationship does indeed...

Persistent link: https://www.econbiz.de/10012503042

Inequality, imperfect competition and fiscal policy

2017

We build a New Keynesian model with imperfectly competitive goods markets and heterogeneous people and examine their impact on fiscal multipliers and on the net increase in output and expenditure caused by fiscal policies, using the balanced budget multiplier. Results show that in highly unequal...

Persistent link: https://www.econbiz.de/10011902288