Public Investment, the Rate of Return, and Optimal Fiscal Policy

by Kenneth J. Arrow, Mordecai Kruz

Overview

This book, co-authored by the Nobel-prized economist, Kenneth Arrow, considers public expenditures in the context of modern growth theory. It analyzes optimal growth with public capital. A theory of 'controllability' is developed and injected into public economics and growth models. Originally published in 1970

Product Details

ISBN-13:	9781617260308
Publisher:	Taylor & Francis
Publication date:	01/19/2011
Series:	RFF Environmental and Resource Economics Set , #1
Pages:	254
Product dimensions:	6.12(w) x 9.19(h) x (d)

About the Author

Arrow, Kenneth J.; Kruz, Mordecai

Table of Contents

Chapter 1 Basic Concepts for the Theory of Public Investment; Chapter 2 Methods of Optimization over Time; Chapter 3 Optimal Investment Planning in a One-Commodity Model; Chapter 4 Optimal Investment in a Two-Sector Model; Chapter 5 Objectives, Markets, and Public Instruments; Chapter 6 Optimal Policy and Controllability with Imperfect Capital Markets; Chapter 7 Consumer Behavior in a Perfect Market; Chapter 8 Controllability of Public Policy in Perfect Capital Markets;