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 …

theory (Myers 1977). We also find that the effect of public investment on corporate investment is much weaker for firms that …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 …

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 …

United Kingdom, and the United States. Differences in wage differen-tiation and investment in new technologies among these …

capital investment. The increased enrollments raised the supply of schools, leading to continued schooling investment. Cross …