|
|
|
|
| LEADER |
03237nmm a2200733 u 4500 |
| 001 |
EB002078544 |
| 003 |
EBX01000000000000001218634 |
| 005 |
00000000000000.0 |
| 007 |
cr||||||||||||||||||||| |
| 008 |
220928 ||| eng |
| 020 |
|
|
|a 9781513518572
|
| 100 |
1 |
|
|a An, Zidong
|
| 245 |
0 |
0 |
|a On the Substitution of Private and Public Capital in Production
|c Zidong An, Alvar Kangur, Chris Papageorgiou
|
| 260 |
|
|
|a Washington, D.C.
|b International Monetary Fund
|c 2019
|
| 300 |
|
|
|a 34 pages
|
| 651 |
|
4 |
|a United States
|
| 653 |
|
|
|a Labor Economics: General
|
| 653 |
|
|
|a Labour
|
| 653 |
|
|
|a Occupational Choice
|
| 653 |
|
|
|a Public-private sector cooperation
|
| 653 |
|
|
|a Macroeconomic Analyses of Economic Development
|
| 653 |
|
|
|a Financial institutions
|
| 653 |
|
|
|a Labor
|
| 653 |
|
|
|a Investments: General
|
| 653 |
|
|
|a Corporate Finance and Governance
|
| 653 |
|
|
|a Stocks
|
| 653 |
|
|
|a Financial Instruments
|
| 653 |
|
|
|a Other Public Investment and Capital Stock
|
| 653 |
|
|
|a Macroeconomics
|
| 653 |
|
|
|a Fiscal and Monetary Policy in Development
|
| 653 |
|
|
|a Economic Development: Financial Markets
|
| 653 |
|
|
|a Skills
|
| 653 |
|
|
|a Institutional Investors
|
| 653 |
|
|
|a Investments: Stocks
|
| 653 |
|
|
|a Capacity
|
| 653 |
|
|
|a Investment & securities
|
| 653 |
|
|
|a Saving and investment
|
| 653 |
|
|
|a Human capital
|
| 653 |
|
|
|a Private investment
|
| 653 |
|
|
|a Human Capital
|
| 653 |
|
|
|a Pension Funds
|
| 653 |
|
|
|a Saving and Capital Investment
|
| 653 |
|
|
|a Labor economics
|
| 653 |
|
|
|a Intangible Capital
|
| 653 |
|
|
|a Investment
|
| 653 |
|
|
|a Public investment and public-private partnerships (PPP)
|
| 653 |
|
|
|a Capital
|
| 653 |
|
|
|a Public finance & taxation
|
| 653 |
|
|
|a Non-bank Financial Institutions
|
| 653 |
|
|
|a Labor Productivity
|
| 653 |
|
|
|a National accounts
|
| 653 |
|
|
|a Expenditure
|
| 653 |
|
|
|a Income economics
|
| 653 |
|
|
|a Public Finance
|
| 653 |
|
|
|a National Government Expenditures and Related Policies: Infrastructures
|
| 700 |
1 |
|
|a Kangur, Alvar
|
| 700 |
1 |
|
|a Papageorgiou, Chris
|
| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
|
| 989 |
|
|
|b IMF
|a International Monetary Fund
|
| 490 |
0 |
|
|a IMF Working Papers
|
| 028 |
5 |
0 |
|a 10.5089/9781513518572.001
|
| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2019/232/001.2019.issue-232-en.xml?cid=48720-com-dsp-marc
|x Verlag
|3 Volltext
|
| 082 |
0 |
|
|a 330
|
| 520 |
|
|
|a Most macroeconomic models assume that aggregate output is generated by a specification for the production function with total physical capital as a key input. Implicitly this assumes that private and public capital stocks are perfect substitutes. In this paper we test this assumption by estimating a nested-CES production function whereas the two types of capital are considered separately along with labor as inputs. The estimation is based on our newly developed dataset on public and private capital stocks for 151 countries over a period of 1960-2014 consistent with Penn World Table version 9. We find evidence against perfect substitutability between public and private capital, especially for emerging and LIDCs, with the point estimate of the elasticity of substitution estimated closely around 3
|