Rentabilidad social de la inversión pública española en infraestructuras
AbstractThis paper quantifies the welfare effects of the Spanish public investment in infrastructures. For that purpose, we use data on Spanish economy to calibrate a dynamic general equilibrium model with a representative agent, where public investment is financed by means of distortionary taxes. As is usual, the stock of public infrastructures has a positive effect on the total factor productivity. However, as main contribution of the paper, we assume that this effect depends on the effective endowment of infrastructures. In particular, we assume that there are diminishing returns to scale at the private level as a consequence of the existence of transport costs, which negatively depend on the stock of infrastructures per unit of output.
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Bibliographic InfoPaper provided by Institut d'Economia de Barcelona (IEB) in its series Working Papers with number 2004/8.
Length: 35 pages
Date of creation: 2004
Date of revision:
Dynamic comparative; Dynamic general equilibrium; Fiscal policy; Welfare;
Other versions of this item:
- Jaime Alonso-Carrera & María Jesús Freire-Serén & Baltasar Manzano, 2004. "Rentabilidad social de la inversión pública española en infraestructuras," Hacienda Pública Española, IEF, vol. 170(3), pages 81-103, september.
- Jaime Alonso-Carrera & María Jesús Freire-Serén & Baltasar Manzano, . "Rentabilidad Social De La Inversión Pública Española En Infraestructuras," Working Papers 30-03 Classification-JEL , Instituto de Estudios Fiscales.
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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