Sep 21, 2010

Articles in journals

Afonso, A., St. Aubyn, M.

17

4

We compute the macroeconomic rates of return of public and private investment implicit in a VAR for 14 European Union countries, Canada, Japan and the United States. Results point mostly to positive effects of public and private investment on output, while public investment crowds out private investment in a significant number of countries.

Public investment,Private investment,Impulse response,VAR,European Union,