کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5098456 | 1478699 | 2014 | 27 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The effects of public spending externalities
ترجمه فارسی عنوان
تأثیرات خارجی هزینه های عمومی
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
چکیده انگلیسی
We conduct a positive analysis on the effects of 'externalities' produced by government spending. To this effect, we estimate, using U.S. data, an RBC model with two salient features. First, we allow government consumption to directly affect the marginal utility of consumption. Second, we allow public capital to shift the productivity of private factors. We provide an identification analysis that supports the strategy adopted for estimating the parameters governing these two channels. On one hand, private and government consumption are robustly estimated to be substitute goods. Because of substitutability, labor supply reacts little to a government consumption shock, so the estimated output multiplier is much lower than in models with separabilities. On the other hand, our results point towards public investment being 'unproductive'.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 46, September 2014, Pages 173-199
Journal: Journal of Economic Dynamics and Control - Volume 46, September 2014, Pages 173-199
نویسندگان
Valerio Ercolani, João Valle e Azevedo,