Abstract

http://ssrn.com/abstract=1419
 
 

References (43)



 
 

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Optimal Fiscal Policy, Public Capital and the Productivity Slowdown


Kevin J. Lansing


Federal Reserve Bank of San Francisco; Norges Bank

Steven P. Cassou


Kansas State University - Department of Economics

September 1996


Abstract:     
This paper develops a quantitative theoretical model for the optimal provision of public capital. We show that the ratio of public to private capital in the U.S. economy since 1925 evolves in a manner that is broadly consistent with an optimal transition path derived from a simple growth model. The model is used to quantify the conditions under which an increase in the stock of public capital is desirable and to investigate the degree to which non-optimal fiscal policies can account for the U.S. productivity slowdown.

Number of Pages in PDF File: 33

JEL Classification: E62, H40, H54, O41, E13

working papers series


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Date posted: October 28, 1996  

Suggested Citation

Lansing, Kevin J. and Cassou, Steven P., Optimal Fiscal Policy, Public Capital and the Productivity Slowdown (September 1996). Available at SSRN: http://ssrn.com/abstract=1419 or http://dx.doi.org/10.2139/ssrn.1419

Contact Information

Kevin J. Lansing (Contact Author)
Federal Reserve Bank of San Francisco ( email )
101 Market Street
PO Box 7702
San Francisco, CA 94105
United States
415-974-2393 (Phone)
415-977-4031 (Fax)
Norges Bank ( email )
P.O. Box 1179
Oslo, N-0107
Norway
Steven P. Cassou
Kansas State University - Department of Economics ( email )
Manhattan, KS 66502-4001
United States
785-532-6342 (Phone)
785-532-6919 (Fax)
Feedback to SSRN


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References:  43
Citations:  11

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