Steiner, Roberto - Inter-American Development Bank - 2014
(1967), we estimate an investment function, which depends on the user cost of capital, one of whose determinants is the … short and long-term effects on investment in machinery and equipment. While the user cost of capital declines 0.9 percent … compensate the fiscal cost incurred. In the long term, however, it is likely that the significant boost in investment (of around …