Public Investment Criterion in an Overlapping Generations Economy
Bibliographic Data
| ID | 9723932 |
|---|---|
| Authors | Masatoshi Yoshida (0000-0002-2566-1820, corresponding author) |
| Year | 1986 |
| Volume | 53 |
| Issue | 210 |
| Pages | 247 |
| Publication date | 1986-05-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2553952 |
| OpenAlex | W2059188352 |
| Language | EN |
| Citations received | 1 |
| References cited | 8 |
This paper extends the Sandmo-Dreze model of public investment to the overlapping generations model, where each person lives for two periods, working in the first and retired in the second. It is shown that in a (non-) tax-distorted economy with (without) the corporation income tax, if government surplus can be redistributed between younger and older generations, then the second-best (optimal) discount rate for public investment in steady states should be not only the weighted average formula (the market rate of interest) derived by Sandmo and Dreze (Economica, 1971) but also the population growth rate
Corporation · Economics · Economy · Golden Rule · Government (linguistics) · Investment (military) · Microeconomics · Monetary economics · Overlapping generations model · Population · Tax rate · Economic Growth and Productivity · Economic theories and models · Finance · Fiscal Policy and Economic Growth
An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money
A Re-examination of the Pure Consumption Loans Model
Discount Rates for Public Investment in Closed and Open Economies
Public Investment, the Rate of Return, and Optimal Fiscal Policy
Discount Rates and Public Investment
On Optimising the Rate of Saving
Welfare Implications of the Taxation of Savings
A Mathematical Theory of Saving
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2023 - 2023 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |