English, Article, Journal or magazine article edition: Characterizing the Optimal Composition of Government Expenditures Rafaela Pérez Sánchez

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Bookmark: http://trove.nla.gov.au/version/160226
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Characterizing the Optimal Composition of Government Expenditures
Author
  • Rafaela Pérez Sánchez
Physical Description
  • preprint
Notes
  • This paper extends the neoclassical growth model with productive public capital by including an infrastructure efficiency index, which is assumed to depend on a public choice variable, in particular, the share of public spending allocated to productive public consumption. A golden rule for the allocation of public expenditure between productive consumption and investment is specified. Under this framework, the observed path for the stock of infrastructures and the proposed efficiency index in the US economy during the last fifty years have been close to optimal: a lower stock of infrastructures has been accumulated, but it has been used more efficiently.
  • Public Expenditure Composition, Public Investment, Public Consumption, Nominal and Effective Infrastructures, Infrastructures Efficiency Index
  • RePEc:cea:doctra:e2004_81
Language
  • English
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