Project Appraisal for the Keynesian Investment Planner
AbstractThis paper outlines a theory of project appraisal wherein the neoclassical premises of conventional cost-benefit analysis are replaced by their Keynesian counterparts. The paper shows how the social rate of return on public and private investment, the private and social discount rates, and other concepts used in cost-benefit analysis may be modified to take account of the income externalities generated by the multiplier, mark-up pricing, and the causal priority of investment over saving. Copyright Kluwer Academic Publishers 1999
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Bibliographic InfoArticle provided by Springer in its journal Economics of Planning.
Volume (Year): 32 (1999)
Issue (Month): 2 (May)
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Web page: http://www.springerlink.com/link.asp?id=113294
cost-benefit analysis; Keynesian; public investment; social discount rate;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dixon,Huw David & Rankin,Neil, 1995. "The New Macroeconomics," Cambridge Books, Cambridge University Press, number 9780521479479, December.
- Bradford, David F, 1975. "Constraints on Government Investment Opportunities and the Choice of Discount Rate," American Economic Review, American Economic Association, vol. 65(5), pages 887-99, December.
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