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Optimal production of public services in an endogenous growth model
- フォーマット:
- 論文
- 責任表示:
- Maebayashi, Noritaka
- 言語:
- 英語
- 出版情報:
- 北九州市立大学経済学会, 2020-03
- 著者名:
- Maebayashi, Noritaka
- 掲載情報:
- 北九州市立大学商経論集
- ISSN:
- 13472623
- 巻:
- 55
- 通号:
- 1・2・3・4合併号
- 開始ページ:
- 25
- 終了ページ:
- 50
- バージョン:
- none
- 概要:
- This study investigates (i) the growth-maximizing, (ii) second-best, and (iii) first-best welfare-maximizing policies when the government produces productive public services using capital and private goods. When the production costs of public services are financed by income tax, the government spending-output ratio exceeds the output elasticity of public services (Pareto-optimal level) under the growth-maximizing or second-best welfare-maximizing policy. This leads to an … over-use of resources by the government, over-provision of public services, and under-accumulation of capital in a decentralized economy. Subsidies on private investment, which is increasing in the contribution of publicly employed capital to final goods, can resolve these inefficiencies. 続きを見る
- URL:
- http://id.nii.ac.jp/1077/00000672/
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