全球智库信息集成服务系统(G2TT): Government Investment and the European Stability and Growth Pact

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w13200
来源ID	Working Paper 13200
	Government Investment and the European Stability and Growth Pact
	Marco Bassetto; Vadym Lepetyuk
发表日期	2007-06-29
出版年	2007
语种	英语
摘要	We consider the effect of excluding government investment from the deficit subject to the limits of the European Stability and Growth Pact. In the model we consider, residents of a given country discount future costs and benefits of government spending more than efficiency would dictate, because they fail to take into account the portion that will accrue to people that have not yet been born or immigrated into the country. It is thus in principle desirable to design budget rules that favor long-term investment (by allowing more borrowing) over other government spending that only carries short-term benefits. However, given the low rates of population growth, mortality, and mobility across European countries, we find that the distortions arising from treating all government spending equally are likely to be modest. We also show that these modest distortions can be alleviated only if net government investment is excluded from the deficit computation; excluding gross investment may even be counterproductive, as it promotes overspending in government capital.
主题	Microeconomics ; Welfare and Collective Choice ; Macroeconomics ; Fiscal Policy ; Public Economics ; Public Goods ; National Fiscal Issues
URL	https://www.nber.org/papers/w13200
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/570869
推荐引用方式 GB/T 7714	Marco Bassetto,Vadym Lepetyuk. Government Investment and the European Stability and Growth Pact. 2007.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w13200.pdf（192KB）	智库出版物		限制开放	CC BY-NC-SA	浏览