This paper investigates the relevance of business saving for private saving and investment around the world by constructing and exploiting a broad international, unbalanced panel of 64 countries over 1990-2012. The paper shows that businesses are the main contributors to private and national...

The literature on public goods has shown that efficient outcomes are impossible if participation constraints have to be respected. This paper addresses the question whether they should be imposed. It asks under what conditions efficiency considerations justify that individuals are forced to pay...