Lecca, Patrizio; McGregor, Peter G.; Swales, John Kim - 2012
-budget adjustment in public expenditure by varying the basic rate of income tax. While this power has not so far been used, there is … consumers; public capital expenditure crowds in consumption and investment but crowding out effects might arise in the short …-run if agents are myopic. The distinctive results for public capital expenditure suggest that the current restriction on the …
