increasing returns to scale; (2) the impact of increases in private investment on growth is large, significant, and robust; (3 …) increases in government investment have a positive impact on growth; (4) human capital development plays an important role in …

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 … mixes of investment in human capital and infrastructure. We show that investment in human capital is much more effective …

investment and growth, in practice growth effects of taxation are negligible. This paper provides evidence in support of this … highlights implications of different taxes for growth and investment in these models. The empirical work is based on cross … significant investment effects from income and consumption taxes that are consistent with small growth effects. The results are …

In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of … public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first … analyze aggregate data and find large and significant multipliers and strong crowding-in of private investment. Our main …