| URN |
etd-0527118-133400 |
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| Author |
Yu-Shan Kuo |
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| Author's Email Address |
No Public. |
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| Statistics |
This thesis had been viewed 5587 times. Download 79 times. |
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| Department |
Economics |
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| Year |
2017 |
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| Semester |
2 |
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| Degree |
Master |
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| Type of Document |
|
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| Language |
zh-TW.Big5 Chinese |
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| Title |
Public Investment Multipliers: Domestic vs. Foreign Labor |
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| Date of Defense |
2018-06-04 |
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| Page Count |
55 |
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| Keyword |
dynamic stochastic general equilibrium model
public sector output
foreign labor
multiplier effect
public investment
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| 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. |
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| Advisory Committee |
Juin-Jen Chang - chair
Chih-Yu Yang - co-chair
Shu-Chun S. Yang - advisor
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| Files |
Indicate in-campus at 0 year and off-campus access at 1 year. |
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| Date of Submission |
2018-06-27 |
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