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/