Giacinto, Valter Di; Micucci, Giacinto; Montanaro, … - Banca d'Italia - 2009
This paper assesses the effects of public capital in Italy on the main macroeconomic aggregates: GDP, private capital and labour. A cointegrated vector autoregressive (VAR) model, in line with recent advancements in the field, allows us to take into account the complex nexus of direct and...