Public investment multipliers by functions of government: An empirical analysis for European countries

Saccone, Donatella; Posta, Pompeo Della; Marelli, Enrico; Signorelli, Marcello

doi:10.1016/j.strueco.2022.01.006

Cited by 12 publications

(11 citation statements)

References 61 publications

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“…The above mentioned wrong economic policy was mainly supported by largely incorrect values of the fiscal multipliers that-after better investigations in Keynesian specifications-resulted higher than one especially if calculated during a recession and when interest rates reach the zero-lower bound [14][15][16]. In particular, Saccone et al [17] confirmed the higher values of public investment multipliers and showed differences according to government functions. As showed by Auerbach and Gorodnichenko [18], the real consequences of the above non-Keynesian policies are even worse when several countries consolidate at the same time.…”

Section: Theories and Modelsmentioning

confidence: 99%

COVID-19, Economic Policies and Public Debt Sustainability in Italy

2022

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We analyze the conditions for public debt-to-GDP ratio stability extending the Domar’s approach by including the interaction between the government’s reaction function and the private sector’s reaction function, and considering the impact of 2020–2021 pandemic shock and the monetary and fiscal policy responses, with simulations applied to the Italian case. The outcomes of the numerical simulations show the crucial importance of ECB extraordinary monetary policies, of the NGEU and, to lesser extent, of national expansionary fiscal policies adopted during pandemic shock; both European wide monetary and fiscal policies actually increase the sustainability area avoiding the high risk of sovereign debt crisis in Italy (and other peripheral Eurozone countries). The stabilizing effect of GDP growth, hopefully resulting from the NGEU policy, is also simulated in the paper.

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Section: Theories and Modelsmentioning

confidence: 99%

COVID-19, Economic Policies and Public Debt Sustainability in Italy

2022

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“…It also facilitates economic revival and its aptitude for augmenting production levels and efficiency over an extended temporal horizon (Saccone et al, 2022). In particular, an augmentation in governmental expenditure on investment amplifies aggregate demand via the multiplier effect, akin to other components of government spending.…”

Section: Ecological Macroeconomic Policiesmentioning

confidence: 99%

Integrating Environmental Sustainability into Macroeconomic Frameworks: The Eco-Keynesian Cross

Grazini,

Guarini,

Oreiro

2024

REPP

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The ecological transition hinges on ecological structural change, necessitating smart macroeconomic policies. Incorporating ecological considerations into macroeconomic modelling constitutes a pivotal area of inquiry that examines the nexus between environmental sustainability and economic expansion. This article proposes a macroeconomic modelling to establish a foundational analytical framework to address this challenge. Incorporating ecological considerations into macroeconomic modelling constitutes a pivotal area of inquiry that examines the nexus between environmental sustainability and economic expansion. Contributing to the post-Keynesian Ecological Macroeconomics field, this paper proposes an eco-Keynesian cross due to its simplicity and widespreadness for teaching macroeconomics to illustrate the macroeconomic perspective of green targets strategies in a closed economy. Green public and private investments have the potential to enhance output through the multiplier effect and improve environmental efficiency. However, these investments may also induce rebound effects, resulting in a net increase in pollution intensity within the economy. The model underscores the potential trade-off between social and environmental objectives, which an ecological perspective seeks to surmount by advocating for sustainable and inclusive industrial development.

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“…Los proyectos de inversión pública también traen consigo una serie de beneficios para la sociedad, por ejemplo, aquellas obras diseñadas para el financiamiento de electricidad, sistemas de alcantarillado y agua potable, ampliación de carreteras y vías, entre otros (Saccone et al, 2022).…”

Section: Característicasunclassified

Proyectos de inversión pública en infraestructura para el desarrollo de una nación

Sifuentes Pinto,

Quiñones Li,

Quiñones Vernazza

2023

RDLUZ

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La investigación tuvo por objetivo evaluar los proyectos de inversión pública en infraestructura para el desarrollo de un gobierno local, 2015-2020. El método empleado fue de enfoque cualitativo de tipo básico y diseño fenomenológico, considerando la participación de 7 trabajadores del gobierno local, a quienes se le aplicó una entrevista a profundidad sobre el tema. En los resultados se evidenció que los proyectos de inversión pública en infraestructura son sumamente importantes porque benefician a la población y resuelven problemas. Sin embargo, no se realizan adecuadamente porque existen inconvenientes en cuanto al planeamiento y ejecución. Se concluyó que es necesario optimizar los recursos e impulsar la inversión pública para traer mejoras en las condiciones sociales. Además, es importante que el gobierno implemente un mejor control de los proyectos, ya que de esta manera se podrá seguir el reglamento y evitar problemas a la hora de ejecutar las obras.

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Public investment multipliers by functions of government: An empirical analysis for European countries

Cited by 12 publications

References 61 publications

COVID-19, Economic Policies and Public Debt Sustainability in Italy

COVID-19, Economic Policies and Public Debt Sustainability in Italy

Integrating Environmental Sustainability into Macroeconomic Frameworks: The Eco-Keynesian Cross

Proyectos de inversión pública en infraestructura para el desarrollo de una nación

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