Comment on E.R. Berndt and B. Hansson, "Measuring the Contribution of Public Infrastructure Capital in Sweden." (response to article by Ernst R. Berndt and Bengt Hansson in this issue, p.S151)

Article Abstract:

An analysis of research findings concerning excessive investment in Swedish infrastructure capital is presented. Earlier findings estimate the rate of overspending for capital at 10%. However, the social price of infrastructure and the possibility of excess private capital underlining these results have not been thouroughly examined. Analysis shows that further research is needed to substantiate claims of overspending for such resources.

Capital investments

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Housing and financial wealth, financial deregulation and consumption - the Swedish case

Article Abstract:

Earlier studies aggregated different types of wealth to analyze consumption behavior. However, a new model for analyzing consumption was formulated which disaggregated wealth as housing and net financial wealth. Using data from Sweden for the period 1970-1992, it was discovered that consumption, income and wealth integrated in an order of one and that each variable cointegrated if wealth is disaggregated.

Research, Consumption (Economics), Wealth

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Measuring the contribution of public infrastructure capital in Sweden

Article Abstract:

A study was conducted to examine the impact of public infrastructure capital to Sweden's private sector output and productivity growth. The study employs various econometric models for analysis and focuses on annual data from 1960 to 1988. Results show that pblic infrastructure capital increases reduce private sector expenditures. However, such capital contribution has been decreasing in the 1980s.

Private sector, Capital formation

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