productivity and that they impact the degree of R&D spillovers …

as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …

intertemporal trade-off. Because investment in education affects labor productivity with a long lag, it takes 15+ years before net …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 …

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 …

total factor productivity in the non-resource sector reduces the degree of des-investment in public capital commanded by …This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we … use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing …

private capital stocks for 151 countries over a period of 1960-2014 consistent with Penn World Table version 9. We find …