Abstract How large is Australia's fiscal space? Blanchard (2019) shows that as long the real interest rate below growth , a government can sustain positive primary deficit with constant (or even declining) ratio of public debt to GDP. In this article, we explain neutral and reasons for its decline. Then, discuss results companion paper, Domínguez Quiggin (2022), in which quantify space Australi...

Many analysts decry the lack of sufficient investment in Africa, implying that investment in Africa is “too low.” We find no evidence that private and public capital are productive in Africa, either in the cross-country data or in micro data from Tanzania. In this restricted sense, investment in Africa is too high rather than too low. Shantayanan Devarajan* William R. Easterly* Howard Pack** *W...

Hospital capital investment is important for acquiring and maintaining technology and equipment needed to provide health care. Reduction in capital investment by a hospital has negative implications for patient outcomes. Most hospitals rely on debt and internal cash flow to fund capital investment. The great recession may have made it difficult for hospitals to borrow, thus reducing their capit...