Matches in SemOpenAlex for { <https://semopenalex.org/work/W3195465269> ?p ?o ?g. }
Showing items 1 to 75 of
75
with 100 items per page.
- W3195465269 abstract "The golden rule of public finance distinguishes public investment from consumption spending when borrowing, permitting the finance of public investment only. This study focuses on public investment in human capital and compares this rule with the balanced budget rule, which rules out debt finance, in an overlapping generations model. In the model, fiscal policy is endogenous, chosen each period by a short-lived government representing existing generations. We evaluate the government's choice and the resulting political distortions for a given fiscal rule from the long-lived planner's perspective. We find that a country with a larger preference for public consumption can minimize distortions by lowering the fraction of debt-financed public investment. We calibrate the model to a sample of OECD countries. On the one hand, we find that the golden rule of public finance in human capital is optimal and politically supported in Greece; on the other hand, the balanced budget rule (no borrowings for human capital investment) is optimal and politically supported in Germany and to a lesser extent in Japan and the United States." @default.
- W3195465269 created "2021-08-30" @default.
- W3195465269 creator A5005261297 @default.
- W3195465269 creator A5091013327 @default.
- W3195465269 date "2021-08-22" @default.
- W3195465269 modified "2023-09-27" @default.
- W3195465269 title "Borrowing to Finance Public Investment: A Politico-economic Analysis of Fiscal Rules" @default.
- W3195465269 hasPublicationYear "2021" @default.
- W3195465269 type Work @default.
- W3195465269 sameAs 3195465269 @default.
- W3195465269 citedByCount "0" @default.
- W3195465269 crossrefType "posted-content" @default.
- W3195465269 hasAuthorship W3195465269A5005261297 @default.
- W3195465269 hasAuthorship W3195465269A5091013327 @default.
- W3195465269 hasConcept C10138342 @default.
- W3195465269 hasConcept C120527767 @default.
- W3195465269 hasConcept C139719470 @default.
- W3195465269 hasConcept C144024400 @default.
- W3195465269 hasConcept C162324750 @default.
- W3195465269 hasConcept C17744445 @default.
- W3195465269 hasConcept C178283979 @default.
- W3195465269 hasConcept C199539241 @default.
- W3195465269 hasConcept C27548731 @default.
- W3195465269 hasConcept C2776675903 @default.
- W3195465269 hasConcept C2776756943 @default.
- W3195465269 hasConcept C2994464924 @default.
- W3195465269 hasConcept C30772137 @default.
- W3195465269 hasConcept C36289849 @default.
- W3195465269 hasConcept C524878704 @default.
- W3195465269 hasConcept C556758197 @default.
- W3195465269 hasConcept C94625758 @default.
- W3195465269 hasConceptScore W3195465269C10138342 @default.
- W3195465269 hasConceptScore W3195465269C120527767 @default.
- W3195465269 hasConceptScore W3195465269C139719470 @default.
- W3195465269 hasConceptScore W3195465269C144024400 @default.
- W3195465269 hasConceptScore W3195465269C162324750 @default.
- W3195465269 hasConceptScore W3195465269C17744445 @default.
- W3195465269 hasConceptScore W3195465269C178283979 @default.
- W3195465269 hasConceptScore W3195465269C199539241 @default.
- W3195465269 hasConceptScore W3195465269C27548731 @default.
- W3195465269 hasConceptScore W3195465269C2776675903 @default.
- W3195465269 hasConceptScore W3195465269C2776756943 @default.
- W3195465269 hasConceptScore W3195465269C2994464924 @default.
- W3195465269 hasConceptScore W3195465269C30772137 @default.
- W3195465269 hasConceptScore W3195465269C36289849 @default.
- W3195465269 hasConceptScore W3195465269C524878704 @default.
- W3195465269 hasConceptScore W3195465269C556758197 @default.
- W3195465269 hasConceptScore W3195465269C94625758 @default.
- W3195465269 hasLocation W31954652691 @default.
- W3195465269 hasOpenAccess W3195465269 @default.
- W3195465269 hasPrimaryLocation W31954652691 @default.
- W3195465269 hasRelatedWork W1585580497 @default.
- W3195465269 hasRelatedWork W1628006077 @default.
- W3195465269 hasRelatedWork W2018074145 @default.
- W3195465269 hasRelatedWork W2025265854 @default.
- W3195465269 hasRelatedWork W2055374787 @default.
- W3195465269 hasRelatedWork W2123630185 @default.
- W3195465269 hasRelatedWork W2127097052 @default.
- W3195465269 hasRelatedWork W2142265849 @default.
- W3195465269 hasRelatedWork W2149699952 @default.
- W3195465269 hasRelatedWork W2181697214 @default.
- W3195465269 hasRelatedWork W2280953752 @default.
- W3195465269 hasRelatedWork W2423484767 @default.
- W3195465269 hasRelatedWork W2766578922 @default.
- W3195465269 hasRelatedWork W2959607843 @default.
- W3195465269 hasRelatedWork W3123588166 @default.
- W3195465269 hasRelatedWork W3123670694 @default.
- W3195465269 hasRelatedWork W3124057639 @default.
- W3195465269 hasRelatedWork W3124668618 @default.
- W3195465269 hasRelatedWork W3128558977 @default.
- W3195465269 hasRelatedWork W2891177073 @default.
- W3195465269 isParatext "false" @default.
- W3195465269 isRetracted "false" @default.
- W3195465269 magId "3195465269" @default.
- W3195465269 workType "article" @default.