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 …

There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated U.S. private fixed investment …. Some argue that the business tax provisions spurred investment by cutting the cost of capital. Others see the TCJA … primarily as a windfall for shareholders. We find that U.S. business investment since 2017 has grown strongly compared to pre …