| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2294 |
| DP2294 Cross-Country Growth Comparison: Theory to Empirics | |
| Danny Quah | |
| 发表日期 | 1999-11-30 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. In particular, we investigate how different types of fiscal policy affect profits and, as a result, investment. We find a sizeable negative effect of public spending - and in particular of its public wage component - on business investment. This result is consistent with models in which government employment creates wage pressure for the private sector. Various types of taxes also have negative effects on profits, but, interestingly, the effects of government spending on investment are larger than the effect of taxes. Our results have important implications for the so called ``non-Keynesian'' (i.e. expansionary) effects of fiscal adjustments. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal policy investment Profits Taxes |
| URL | https://cepr.org/publications/dp2294 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531386 |
| 推荐引用方式 GB/T 7714 | Danny Quah. DP2294 Cross-Country Growth Comparison: Theory to Empirics. 1999. |
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