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How should we measure the return on public investment in a VAR

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Author Info
Álvaro Manuel Pina
Miguel St. Aubyn

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Abstract

Pereira’s (2000) method of computing the return on public investment in a VAR is extended. A new return measure which accounts for public and private costs is proposed. An application to US data shows non-trivial differences between alternative return rates.

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File URL: http://pascal.iseg.utl.pt/~depeco/wp/wp042005.pdf
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Publisher Info
Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number 2005/04.

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Date of creation: 2005
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Handle: RePEc:ise:isegwp:wp42005

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Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: http://www.iseg.utl.pt/departamentos/economia/

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Related research
Keywords: Public investment; rate of return; VAR.;

Other versions of this item:

Find related papers by JEL classification:
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions
H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
H57 - Public Economics - - National Government Expenditures and Related Policies - - - Procurement
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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References listed on IDEAS
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.:
  1. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March. [Downloadable!] (restricted)
    Other versions:
  2. Aschauer, David Alan, 1989. "Does public capital crowd out private capital?," Journal of Monetary Economics, Elsevier, vol. 24(2), pages 171-188, September. [Downloadable!] (restricted)
    Other versions:
  3. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254. [Downloadable!] (restricted)
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Statistics
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This page was last updated on 2009-11-20.

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