@article{oai:kitakyu.repo.nii.ac.jp:00000732,
 author = {Maebayashi, Noritaka},
 issue = {1・2・3・4合併号},
 journal = {北九州市立大学商経論集},
 month = {Mar},
 note = {This study investigates (i) the growth-maximizing, (ii) second-best, and (iii) first-best welfare-maximizing policies when the government produces productive public services using capital and private goods. When the production costs of public services are financed by income tax, the government spending-output ratio exceeds the output elasticity of public services (Pareto-optimal level) under the growth-maximizing or second-best welfare-maximizing policy. This leads to an over-use of resources by the government, over-provision of public services, and under-accumulation of capital in a decentralized economy. Subsidies on private investment, which is increasing in the contribution of publicly employed capital to final goods, can resolve these inefficiencies.},
 pages = {25--50},
 title = {Optimal production of public services in an endogenous growth model},
 volume = {55},
 year = {2020}
}