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2006
- handle: 10670/1.5mok2m
- 0210-1521
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Investigaciones Económicas
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José E. Boscá et al., « Efficiency in the provision of public and private capital in 15 OECD countries », Investigaciones Económicas, ID : 10670/1.5mok2m
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Résumé
"In this paper we use a sample of 15 OECD countries to examine whetherprovision of public and private capital satisfies conditions of intertemporale��ciency over the 1970-1995 period. We find robust evidence that privateand public capital have followed criteria of e��cient resource allocation inall countries. The estimated output elasticities of private and public capitaldisplay little variation across countries, and reach mean values of 0.19 and0.055. Consequently, average rates of return to both factors are estimated atabout 5-5.5%. All along we estimate a positive and significant intertemporalelasticity of substitution of consumption in all countries."