کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5099783 1377032 2008 20 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Public capital maintenance and congestion: Long-run growth and fiscal policies
کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
Public capital maintenance and congestion: Long-run growth and fiscal policies
چکیده انگلیسی
In this paper we study an endogenous growth model, in which public maintenance expenditures affect the depreciation rate of public capital and the latter is subject to congestion. We find that economies with low congestion in public infrastructure will require a threshold level of public capital maintenance for ongoing growth. We also examine the fiscal implications of public capital maintenance policies and we find that the composition of public capital expenditures under congestion is a crucial determinant of optimal and growth-maximizing fiscal policies. The government can affect the return of public capital by re-allocating public expenditures between 'new' public investment and maintenance and hence avoid excessive taxation that is required under increasing congestion.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 32, Issue 12, December 2008, Pages 3760-3779
نویسندگان
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