Industrial dynamics and the neolclassical growth model.
Allocating Government Education Expenditures across K-12 and College Education.
Labor Market Trends with
Balanced Growth.
Tax Reform with Useful Public Expenditures.
The Transition from Dirty to Clean Industries: Optimal Fiscal Policy in
a Two-Sector Model of Endogenous Growth.
Growth Effects of Shifting from a Graduated- Rate Tax System to a Flat Tax.
Fiscal Policy and Productivity Growth in the OECD.
Uniform Two-Part Tariffs and Below Marginal Cost Prices: Disneyland Revisited.
Optimal Fiscal Policy, Public Capital, and the Productivity Slowdown.
On Public Capital Analysis with State Data.
The Link Between Tax Rates and Foreign Direct Investment.
Welfare, Stabilization or Growth: A Comparison of Different Fiscal Objectives.
Equivalence of the Standard and Modified Switching Regression Models.
A Normative Analysis of Public Capital.
Optimal Tax Rules in a Dynamic Stochastic Economy with Capital.
A Diagnostic Test Without Numerical Integration.
Backward Solving Quarterly Models with Seasonal or Annual Shocks.
Health Plan Choice and the Utilization of Health Care Services.
The Demand for Employment-Based Health Insurance Plans.
Employment Based Health Insurance.
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Abstract: We use a simple endogenous growth model with productive public capital to investigate the degree to which observed fiscal policies in eights OECD countries can account for slowdowns in the growth rates of aggregate labour productivity since 1970. In model simulations, we find that none of the observed public capital policies can generate slowdowns of sufficient magnitude to match those in the data. For most countries in our sample, a simulation that combines the observed public capital policy with the observed tax policy does a better job of accounting for the slowdown than either policy in isolation. JEL Classification: E62, O41
