Arbeitspapier
Overaccumulation, public debt, and the importance of land
In recent contributions, Weizsäcker (2014) and Summers (2014) maintain that mature economies accumulate too much capital. They suggest large and lasting public deficits as a remedy. This paper argues that overaccumulation cannot occur in an economy with land. It presents novel data of aggregate land values, analyzes the issue in a stochastic framework, and conducts an empirical test of overaccumulation.
- Language
-
Englisch
- Bibliographic citation
-
Series: Diskussionsbeitrag ; No. 525
- Classification
-
Wirtschaft
Fiscal Policy
Taxation and Subsidies: Efficiency; Optimal Taxation
- Subject
-
Dynamic efficiency
overaccumulation
land
fiscal policy
public debt
- Event
-
Geistige Schöpfung
- (who)
-
Homburg, Stefan
- Event
-
Veröffentlichung
- (who)
-
Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
- (where)
-
Hannover
- (when)
-
2014
- Handle
- Last update
- 10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Homburg, Stefan
- Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
Time of origin
- 2014
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