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Debt-Financed Transfers, Public Consumption and Public Investment in an Open Economy
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1985 (English)Report (Other academic)
Abstract [en]

The paper compares the welfare implications for two consecutive generations of debt-financed public spending of three different types - tansfer payments, public consumption and public (infrastructure) investment. The analysis is performed by means of an overlapping generations model with the consumption of a publicly provided good in the utility function of the consumer and the stock of public productive capital in the private sector's production function. The standard overlapping generations model is extended also to include work in the second period of the individual's life and asset holdings in his/her preference function. It is shown how the utility effects on different generations depend not only on the type of spending but also on the implications of the spending for future tax (transfer) payments, as well as on the initial levels of public consumption and public capital.

Place, publisher, year, edition, pages
Stockholm: IIES , 1985. , 51 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 330
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41357OAI: oai:DiVA.org:su-41357DiVA: diva2:329572
Available from: 2010-07-12 Created: 2010-07-12 Last updated: 2010-07-12Bibliographically approved

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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • ieee
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  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
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  • asciidoc
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