Efficiency of Disaggregate Public Capital Provision in Japan
We investigate the efficiency of disaggregated public capital provision for the Japanese economy. We estimate the optimality conditions based on simultaneous Euler equations by using GMM. Our results suggest that public capital productivities have been relatively high and divergent among several public capital goods. The allocation of public works is not optimal yet in Japan.
|Date of creation:||Jun 2000|
|Contact details of provider:|| Postal: Hongo 7-3-1, Bunkyo-ku, Tokyo 113-0033|
Web page: http://www.cirje.e.u-tokyo.ac.jp/index.html
More information through EDIRC
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.:
- Alicia H. Munnell, 1990. "Why has productivity growth declined? Productivity and public investment," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 3-22.
- "Iwamoto, Yasushi", 1990. "An Evaluation of Public Investment Policy in Postwar Japan," Economic Review, Hitotsubashi University, vol. 41(3), pages 250-261, July.
- David Aschauer, 1988.
"Is public expenditure productive?,"
88-7, Federal Reserve Bank of Chicago.
- Otto, Glenn D. & Voss, Graham M., 1998.
"Is public capital provision efficient?,"
Journal of Monetary Economics,
Elsevier, vol. 42(1), pages 47-66, June.
- Cochrane, John H, 1991. " Production-Based Asset Pricing and the Link between Stock Returns and Economic Fluctuations," Journal of Finance, American Finance Association, vol. 46(1), pages 209-237, March.
- Gramlich, Edward M, 1994. "Infrastructure Investment: A Review Essay," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1176-1196, September.
- Toshihiro Ihori & Takero Doi & Hiroki Kondo, 2000.
"Japanese Fiscal Reform: Fiscal Reconstruction and Fiscal Policy,"
CIRJE-F-83, CIRJE, Faculty of Economics, University of Tokyo.
- Ihori, Toshihiro & Doi, Takero & Kondo, Hiroki, 2001. "Japanese fiscal reform: fiscal reconstruction and fiscal policy," Japan and the World Economy, Elsevier, vol. 13(4), pages 351-370, December.
- Hansen, Lars Peter & Singleton, Kenneth J, 1982. "Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models," Econometrica, Econometric Society, vol. 50(5), pages 1269-1286, September.
- Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-1054, July.
- McMillin, W Douglas & Smyth, David J, 1994. "A Multivariate Time Series Analysis of the United States Aggregate Production Function," Empirical Economics, Springer, vol. 19(4), pages 659-673.
When requesting a correction, please mention this item's handle: RePEc:tky:fseres:2000cf75. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CIRJE administrative office)
If references are entirely missing, you can add them using this form.