Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/2150
Título: Macroeconomic rates of return of public and private investment crowding-in and crowding-out effects
Autor: Afonso, António
St. Aubyn, Miguel
Palavras-chave: fiscal policy
public investment
private investment
impulse response
vector autoregression
European Union
Data: Fev-2008
Editora: European Central Bank
Citação: Afonso, António, Miguel St. Aubyn. 2008. "Macroeconomic rates of return of public and private investment crowding-in and crowding-out effects". European Central Bank working paper series nº 864-2008
Relatório da Série N.º: European Central Bank working paper series;nº 864-2008
Resumo: Using annual data from 14 European Union countries, plus Canada, Japan and the United States, we evaluate the macroeconomic effects of public and private investment through VAR analysis. From impulse response functions, we are able to assess the extent of crowding-in or crowding-out of both components of investment. We also compute the associated macroeconomic rates of return of public and private investment for each country. The results point mostly to the existence of positive effects of public investment and private investment on output. On the other hand, the crowding-in effects of public investment on private investment vary across countries, while the crowding-in effect of private investment on public investment is more generalised.
URI: http://hdl.handle.net/10400.5/2150
ISSN: 1725-2806
Versão do Editor: http://www.ecb.int/pub/pdf/scpwps/ecbwp864.pdf
Aparece nas colecções:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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