Diagnosing the Productivity Effect of Public Capital in the Private Sector
Does public capital contribute to the productivity in the private sector? If so, which part of the private sector benefits most? Is public capital a substitute for or a complement of labor and private capital? This paper addresses these questions with both cost and profit function models estimated o...
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| Veröffentlicht in: | Eastern economic journal 2007-04, Vol.33 (2), p.207-230 |
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| container_title | Eastern economic journal |
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| creator | Vijverberg, Chu-Ping C. Vijverberg, Wim P. M. |
| description | Does public capital contribute to the productivity in the private sector? If so, which part of the private sector benefits most? Is public capital a substitute for or a complement of labor and private capital? This paper addresses these questions with both cost and profit function models estimated on U.S. time series data of the private sector and two of its subsectors. It pays special attention to nonstationarity in the data, to endogeneity in the price variables, and to the statistical and economic significance of the public capital effect. |
| doi_str_mv | 10.1057/eej.2007.18 |
| format | Article |
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| ispartof | Eastern economic journal, 2007-04, Vol.33 (2), p.207-230 |
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| language | eng |
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| source | Jstor Complete Legacy; RePEc; EBSCO Business Source Complete; SpringerLink Journals |
| subjects | Capital Capital costs Capital investments Cost analysis Cost estimation models Cost functions Economic activity Economic models Economic Theory/Quantitative Economics/Mathematical Methods Economics Economics and Finance Financial performance Investments Labor productivity Manufacturing Manufacturing industries Prices Private sector Productivity Profitability Profits Public capital Public sector Statistical analysis Studies Time series Variables |
| title | Diagnosing the Productivity Effect of Public Capital in the Private Sector |
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