Working Paper

Optimal fiscal policy, public capital, and the productivity slowdown

Abstract: A presentation of a quantitative-theoretical model that can account for much of the behavior of the stock of public capital in the U.S. economy over the last 70 years, with an application to examining some possible causes of the slowdown in the growth of U.S. labor productivity.

Keywords: Capital; Fiscal policy; Labor productivity;

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Working Papers (Old Series)

Publication Date: 1995

Number: 9509