when competitive households make all investment decisions capital has two externalities: a capital-stock externality and a …

reallocated from the private to the public sector, reducing investment and deepening the recession even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce …

reallocated from the private to the public sectors, reducing investment and deepening the recessions even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce …

uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment …

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 …

The paper analyzes Jamaica's experience of low growth despite consistently high investment. Cross-country analysis … excessively on a few maturing sectors with limited scope for productivity growth. Furthermore, public investment has been crowded …

directly or indirectly through investment. In contrast to earlier studies, we conclude that there is some evidence of positive …-eligible countries to reach higher growth, but it remains unclear whether this is through higher investment or another channel. Also, the …

expected technical change, the higher the firms's investment rate and the lower the households' savings rate, remaining …