ジョ　イチエイ   JO Ichiei   徐 一睿    所属   専修大学  経済学部    専修大学大学院  経済学研究科    職種   教授
言語種別	英語
発行・発表の年月	2021/02/16
形態種別	研究論文
査読	査読あり
標題	The dynamic analysis of maintenance policy in a growing economy with public capital
執筆形態	共著
掲載誌名	International Journal of Economic Policy Studies (2021)
掲載区分	国外
出版社・発行元	Springer
著者・共著者	◎Shian -Jang Tzeng, Yirui Xu, Jianfu Ding, Yongyou Li & Hongshi Jin
概要	This paper sets up a one-sector endogenous growth model to evaluate the impact of maintenance policy on a decentralized economy. It analyzes how the maintenance policy and the nonlinear and endogenous depreciation of private capital facilitate the household’s optimistic expectation to realize. It is shown that the role of the accelerated depreciation of private capital is the key to generate local indeterminacy regardless of the tax financing regime. These theoretical findings with respect to the linkage between local indeterminacy and public maintenance are not common in the existing literature. In addition, our findings also have some important policy implications. The public sector should prudently assess the situations of private capital depreciation to reduce the occurrence of local indeterminacy while adopting the maintenance policy.