Title page for etd-0527118-133400


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URN etd-0527118-133400
Author Yu-Shan Kuo
Author's Email Address No Public.
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Department Economics
Year 2017
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title Public Investment Multipliers: Domestic vs. Foreign Labor
Date of Defense 2018-06-04
Page Count 55
Keyword
  • dynamic stochastic general equilibrium model
  • public sector output
  • foreign labor
  • multiplier effect
  • public investment
  • Abstract Foreign workers are increasingly important in public infrastructure construction. The macroeconomic literature, however, has not paid much attention to this phenomenon. Using a DSGE model, this paper studies the macroeconomic effects of public investment accounting for migrant workers. It finds that when the government uses foreign workers to build public infrastructure, the impact short-run (long-run) national income multiplier is 0.41 (0.69), compared to 0.55 (0.89) when using domestic workers. The use of foreign workers also lowers long-run output multiplier slightly. Because of the assumption that all foreign workers are rule-of-thumb and domestic workers are forward-looking with financial market access, the short-run output multipliers are slightly bigger with foreign workers than with domestic workers as consumption are crowded out by less. Sensitivity analysis finds that when the output elasticity with respect to public capital is lowered from 0.1 (the baseline case) to 0.05, the long-run cumulative output multiplier can be below 1 with foreign workers.
    Advisory Committee
  • Juin-Jen Chang - chair
  • Chih-Yu Yang - co-chair
  • Shu-Chun S. Yang - advisor
  • Files
  • etd-0527118-133400.pdf
  • Indicate in-campus at 0 year and off-campus access at 1 year.
    Date of Submission 2018-06-27

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