by increased trade integration within the European Community and by the accumulation not only of business sector capital …—the only measure of capital included in most empirical studies—but also by the accumulation of government infrastructure … capital, residential capital, and R&D capital. Calculations of potential output indicate that trade and capital …

result of low investment. Latin America is poorer because of lower human capital levels and lower TFP-not because of a lower … capital-output ratio. Cross-country differences of TFP in turn are associated with differences in human capital, governance … and business climate indicators. We demonstrate that once levels of human capital and governance are taken into account …

mixes of investment in human capital and infrastructure. We show that investment in human capital is much more effective …We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG …'s properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different …