Journal ArticleDOI
Is public-expenditure really productive - new evidence for the usa and the netherlands
Jan-Egbert Sturm,Jakob de Haan +1 more
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In this paper, empirical evidence for the USA on the impact of the public capital stock on productivity is reviewed and the well known model of Aschauer is estimated in first differences, which is necessary as the variables used are neither stationary nor cointegrated.About:
This article is published in Economic Modelling.The article was published on 1995-01-01. It has received 125 citations till now. The article focuses on the topics: Public capital & Public expenditure.read more
Citations
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Journal ArticleDOI
Roads to Prosperity? Assessing the Link between Public Capital and Productivity
TL;DR: This article found that when growth in roads (the largest component of infrastructure) changes, productivity growth changes disproportionately in U.S. industries with more vehicles and that road investments do not appear unusually productive.
Journal ArticleDOI
Public Capital and Economic Growth: A Critical Survey
Ward E. Romp,Jakob de Haan +1 more
TL;DR: The authors provides an overview of both theoretical and empirical literature on the link between public investment (capital) and economic growth and concludes that although not all studies find a growthenhancing effect of public capital, there is now more consensus than in the past that public capital furthers economic growth.
Journal ArticleDOI
What have we learned from three decades of research on the productivity of public capital
Pedro R. D. Bom,Jenny Ligthart +1 more
TL;DR: This paper used meta-regression analysis to reconcile the empirical findings of the literature by quantitatively analyzing a sample of 578 estimates collected from 68 studies for the 1983-2008 period.
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Public Infrastructure Investment, Interstate Spatial Spillovers, and Manufacturing Costs
TL;DR: In this paper, the authors apply a cost function model to state-level U.S. manufacturing data, to untangle the private cost-saving effects of inter-and intrastate public infrastructure investment.
Posted ContentDOI
New Estimates of Government Net Capital Stocks for 22 OECD Countries 1960-2001
TL;DR: In this article, the issue of whether government capital is productive has received a great deal of attention recently, yet empirical analyses of public capital productivity have generally been limited to the official capital stock estimates available in a small sample of countries.
References
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Journal ArticleDOI
Co-integration and Error Correction: Representation, Estimation and Testing
TL;DR: The relationship between co-integration and error correction models, first suggested in Granger (1981), is here extended and used to develop estimation procedures, tests, and empirical examples.
Book
Time series analysis, forecasting and control
TL;DR: In this article, a complete revision of a classic, seminal, and authoritative book that has been the model for most books on the topic written since 1970 is presented, focusing on practical techniques throughout, rather than a rigorous mathematical treatment of the subject.
Journal ArticleDOI
Likelihood ratio statistics for autoregressive time series with a unit root
David A. Dickey,Wayne A. Fuller +1 more
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Testing the null hypothesis of stationarity against the alternative of a unit root: How sure are we that economic time series have a unit root?
TL;DR: In this paper, a test of the null hypothesis that an observable series is stationary around a deterministic trend is proposed, where the series is expressed as the sum of deterministic trends, random walks, and stationary error.
Journal ArticleDOI
The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis
TL;DR: In this paper, the authors consider the null hypothesis that a time series has a unit root with possibly nonzero drift against the alternative that the process is "trend-stationary" and show how standard tests of the unit root hypothesis against trend stationary alternatives cannot reject the unit-root hypothesis if the true data generating mechanism is that of stationary fluctuations around a trend function which contains a one-time break.