Roads to Prosperity or Bridges to Nowhere? Theory and Evidence on the Impact of Public Infrastructure Investment

By S. Leduc, Daniel J. Wilson. NBER macroeconomics annual, 2012

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The Macroeconomic Consequences of Infrastructure Investment (2020, background): “Recall that Leeper et al. (2010) had found that introducing timeto-build delays in public capital lowered the short-run multiplier on government investment spending in a neoclassical model.”
Non-Linear Exchange Rate Pass-Through in Emerging Markets (2016, background): “Moreover, following Leduc and Wilson (2012), we introduce in the regression country fixed effects, that should control for time specific time trends.”
The financing of local government in China: Stimulus loan wanes and shadow banking waxes (2020, background): “However, the actual ARRA outlays were delayed until as late as 2014 ( Lew and Porcari, 2017 ). Besides, the ARRA also waived the cost-sharing requirement for the states, as typical non-ARRA projects call for states to cover 20% of the costs. In contrast, in China’s stimulus plan, almost all new bank”