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Estimating the contribution of public capital with times series production functions: a case of unreliable inference

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  • Christophe Hurlin

Abstract

This paper assesses the magnitude of bias in reported estimates of the productive contribution of public capital stock to private factors productivity and growth. The standard approach is taken, based on a production function, in order to estimate structural parameters on simulated pseudo samples generated from a stochastic general equilibrium model.

Suggested Citation

  • Christophe Hurlin, 2001. "Estimating the contribution of public capital with times series production functions: a case of unreliable inference," Applied Economics Letters, Taylor & Francis Journals, vol. 8(2), pages 99-103.
    • Handle: RePEc:taf:apeclt:v:8:y:2001:i:2:p:99-103
    DOI: 10.1080/13504850150204147
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    References listed on IDEAS

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    1. Peter C. B. Phillips & Bruce E. Hansen, 1990. "Statistical Inference in Instrumental Variables Regression with I(1) Processes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(1), pages 99-125.
    2. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
    3. Kocherlakota, Narayana R & Yi, Kei-Mu, 1996. "A Simple Time Series Test of Endogenous vs. Exogenous Growth Models: An Application to the United States," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 126-134, February.
    4. Ratner, Jonathan B., 1983. "Government capital and the production function for U.S. private output," Economics Letters, Elsevier, vol. 13(2-3), pages 213-217.
    5. Otto, Glenn & Voss, Graham, 1996. "Public Capital and Private Production in Australia," MPRA Paper 52110, University Library of Munich, Germany.
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    Cited by:

    1. Blanco, Fernando & Herrera, Santiago, 2006. "The quality of fiscal adjustment and the long-run growth impact of fiscal policy in Brazil," Policy Research Working Paper Series 4004, The World Bank.
    2. World Bank, 2007. "Brazil - Improving Fiscal Circumstances for Growth : Volume 2. Main Report," World Bank Publications - Reports 8005, The World Bank Group.
    3. Melvin Ayogu, 0. "Infrastructure and Economic Development in Africa: A Review-super- †," Journal of African Economies, Centre for the Study of African Economies, vol. 16(suppl_1), pages -126.
    4. Santiago HERRERA & Fernando BLANCO, 2010. "The Quality of Brazilian Fiscal Adjustment, 1999 - 2001," EcoMod2004 330600066, EcoMod.
    5. Fernando Blanco & Santiago Herrera, 2006. "The Quality Of Fiscal Adjustment And The Long-Run Growth Impact Of Fiscal Policy In Brazil," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 87, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

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