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Federal Reserve Bank of Cleveland
Working Papers (Old Series)
Optimal fiscal policy, public capital, and the productivity slowdown
Steven P. Cassou
Kevin J. Lansing
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.


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Steven P. Cassou & Kevin J. Lansing, Optimal fiscal policy, public capital, and the productivity slowdown, Federal Reserve Bank of Cleveland, Working Papers (Old Series) 9509, 1995.
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Keywords: Capital ; Fiscal policy ; Labor productivity
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