The Welfare Multiplier of Public Infrastructure Investment

Released on by Mr.Giovanni Ganelli
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  • The Welfare Multiplier of Public Infrastructure Investment Book Detail

  • Author : Mr.Giovanni Ganelli
  • Release Date : 2016-02-29
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 27
  • ISBN 13 : 1475516673
  • File Size : 8,8 MB
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The Welfare Multiplier of Public Infrastructure Investment by Mr.Giovanni Ganelli PDF Summary

Book Description: We analyze the welfare multipliers of public spending (the consumption equivalent change in welfare for one dollar change in public spending) in a DSGE model. The welfare multipliers of public infrastructure investment are positive if infrastructure is sufficiently effective. When the medium-term output multipliers are consistent with the empirical estimates (1-1.4), the welfare multiplier is 0.8. That is, a dollar spent by the government for investment raises domestic welfare by equivalent of 0.8 dollars of private consumption. This suggests that the welfare gains of public infrastructure investment, if chosen wisely, may be substantial.

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Public Infrastructure and Growth

Public Infrastructure and Growth

File Size : 2,2 MB
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Abstract: This paper provides an overview of the various channels through which public infrastructure may affect growth. In addition to the conventional product