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The Financing of a Public Utility

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    Abstract

    The interaction of capital stock with overlapping generations is investigated where the time structures of human capital and other physical capital does not match. We consider the economies with either gold or fiat as the outside money and consider the financing problems that appear in the financing of capital stock. The complexity of the underlying physical structure combined with concern for efficiency and equity help to determine the financial structure.

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    File URL: http://cowles.econ.yale.edu/P/cd/d18b/d1863.pdf
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    Bibliographic Info

    Paper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1863.

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    Length: 83 pages
    Date of creation: Jun 2012
    Date of revision:
    Handle: RePEc:cwl:cwldpp:1863

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    Web page: http://cowles.econ.yale.edu/
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    Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

    Related research

    Keywords: Capital stock; Time scales; Fiat; Gold; Joint product;

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    1. Drew Fudenberg & David K. Levine, 1998. "The Theory of Learning in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061945, December.
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