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how the actual size of the public capital stock should be measured. The authors state that the focus should be on the … development of gross capital stock. Sebastian Dullien and Katja Rietzler argue that, while the net public capital stock probably … understates the productively available capital stock, the gross figures overestimate it. No matter how one looks at it, Germany …
Persistent link: https://www.econbiz.de/10011997141
Die Infrastrukturinvestitionen nehmen seit Jahren ab. Insbesondere die Gemeinden haben drastisch weniger investiert, nicht wegen eines geringeren Bedarfs, sondern wegen erheblicher Finanzprobleme in der Vergangenheit. Über den langen Zeitraum sind auch Planungs- und Genehmigungskapazitäten...
Persistent link: https://www.econbiz.de/10011996788
To what extent do bond market reactions to an unexpected deficit shock depend on state-specific politics? To answer this question, we calculate German state bond spreads over government benchmark paper using information from Datastream for the period 2006-2010. We test for a variety of...
Persistent link: https://www.econbiz.de/10012988100
We examine determinants of the composition of public expenditure in the German Laender (states) over the period 1992–2008, as the Laender exhibit a high degree of institutional and political homogeneity and are endowed with extensive fiscal competences. Our prime contribution is an...
Persistent link: https://www.econbiz.de/10013110707
We examine determinants of the composition of public expenditure in the German Laender (states) over the period 1993-2008, as the Laender exhibit a high degree of institutional and political homogeneity and are endowed with extensive fiscal competences. Our prime contribution is an investigation...
Persistent link: https://www.econbiz.de/10009488856
Kein EU-Land investiert so wenig in seine öffentliche Infrastruktur wie Deutschland. Im europäischen Durchschnitt wurden seit 2000 jährlich etwa 3,7% des BIP für Straßen, Schulbau und andere staatliche Investitionen aufgewendet. Deutschland lag mit durchschnittlich 2,1% deutlich darunter....
Persistent link: https://www.econbiz.de/10013345938
In Capital in 21st century, Thomas Piketty criticizes Marxian theory and the law of the tendency of the rate of profit …
Persistent link: https://www.econbiz.de/10011111265
We construct a narrative instrument for government investment from official records in Germany. Using structural vector autoregressions, we document a significant crowding-in of private investment and an output multiplier of roughly 2. Then, we match a New Keynesian dynamic stochastic general...
Persistent link: https://www.econbiz.de/10015211287
The article documents the construction of a narrative instrument for government investment, used in the paper 'An Estimation and Decomposition of the Government Investment Multiplier'.
Persistent link: https://www.econbiz.de/10015211330
Persistent link: https://www.econbiz.de/10015207258