Professor Laura Marsiliani laura.marsiliani@durham.ac.uk
Professor
We show that when individuals can save (accumulate capital), they all eventually becomepublic-good contributors. In steady state, larger economies have more contributors. If thepublic good is normal, then its quantity increases in population size in the open-loopequilibrium, but not necessarily in the feedback equilibrium. If both private and public goodsare normal, then the open-loop equilibrium exhibits greater steady-state public provision thanthe feedback equilibrium. If private consumption is inferior the opposite is true. Interpretingindividuals as countries, our findings suggest that all countries over time will becomecontributors toward a global public good.
Marsiliani, L., & Renstroem, T. (2010). Privately provided public goods in a dynamic economy
Working Paper Type | Working Paper |
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Publication Date | Jan 1, 2010 |
Deposit Date | Dec 7, 2012 |
Publicly Available Date | Dec 7, 2012 |
Series Title | Durham University Business School Economics Finance Accounting Working Papers |
Keywords | Private provision, Public goods, Dynamic, Intertemporal, differential game, JEL classifcation: C73 D91 E21 H40. |
Public URL | https://durham-repository.worktribe.com/output/1699649 |
Publisher URL | http://www.dur.ac.uk/business/faculty/working-papers/ |
Published Working Paper
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