Optimal fiscal policy in a multisector model: The price consequences of government spending.
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.
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: A normative analysis of short-term public capital investments is carried out using cost benefit analysis. This cost benefit approach explicitly incorporates the durability of capital into the computation and thus includes an aspect of public capital omitted from previous studies which focus on productivity. Estimation methods used elsewhere have been improved by properly handling several concerns that have been raised . In addition, this behavioural model yields many structural equations suitable for estimation which results in highly efficient parameter estimates. Although a small elasticity is found for public capital, the benefit is greater than the cost.
