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 …

This paper investigates how macroeconomic uncertainty affects the fiscal multiplier of public investment. In theory …. Conversely, it can increase the fiscal multiplier if public investment shocks improve private agents' expectations about future …, we find that unexpected increases in public investment have larger and longer-lasting effects on output, investment, and …

This paper explores whether public investment crowds out or crowds in private investment. To this aim, we build a … database of about half a million firms from 49 countries. We find that the effect of public investment on corporate investment … depends both on leverage and financial constraints. Public investment boosts private investment for firms with low leverage …

While expanding public investment can help filling infrastructure bottlenecks, scaling up too much and too fast often … public investment in a large sample of road construction projects in developing countries. Consistent with the presence of … absorptive capacity constraints, our results show a non-linear U-shaped relationship between public investment and project costs …

This paper contributes to the debate on the relationship between public-capital accumulation and private investment in … the past three decades, we study whether public investment in recent years has become more or less complementary to … private investment in comparison to the period before 1980. Second, we construct a novel data-set of quarterly aggregate …

We evaluate the direct employment effect of the public investment in key infrastructure-electricity, roads, schools and …-11 jobs in R and D in OECD countries. Green investment and investment with a larger R and D component deliver higher … employment effect. Overall, we estimate that one percent of global GDP in public investment can create more than seven million …

Maldives. Fulfilling these infrastructure needs requires a comprehensive analysis of investment plans, including with respect …

-led industrialization under a five-year development plan (2016-2020). Large-scale public investment has aimed to fill infrastructure gaps … to outline different scenarios for the level of public investment in the face of declining hydrocarbon revenues. It finds … that if public investment is sustained at current levels as a share of GDP while hydrocarbon revenues continue to decline …