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• W1978637092 abstract "An infrastructure-led growth model is constructed where the durability of public capital is endogenous and varies according to its usage and the level of maintenance expenditure. Policy changes in total expenditures and the maintenance share are shown to be important for the steady state and the dynamic behavior of the economy. The optimal (growth-maximizing) taxation burden which goes to both ‘new’ investment and maintenance expenditure is, in contrast to standard results from other growth models, larger than the elasticity of infrastructure in the production function. The optimal shares of maintenance expenditure and investment in ‘new’ capital, that ensure maximum utilization of public resources, are calculated." @default.
• W1978637092 created "2016-06-24" @default.
• W1978637092 creator A5061508962 @default.
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• W1978637092 date "2004-03-01" @default.
• W1978637092 modified "2023-10-17" @default.
• W1978637092 title "On the macroeconomic implications of maintenance in public capital" @default.
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• W1978637092 doi "https://doi.org/10.1016/s0047-2727(02)00221-9" @default.
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