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Some of the most important public purchases in recent years -- protecting Yellowstone National Park and buying up the Headwaters redwood forest, for example -- have been federal projects.
By cutting teachers or raising taxes, reducing government transfers or trimming public purchases of goods and services, austerity shrinks the economy in the short term, often more than it shrinks the burden of public debt.
Public purchases of troubled assets are one possibility.
Following standard practice, we assume full home bias in public purchases and public investment, such that their nominal price is equal to the home country PPI, (P_{At}).
It has five instruments on the expenditures side: public purchases, (C_{t}^{g}), public investment, (I_{t}^{g}), public sector wages, (w_{t}^{g}), public employment, (N_{t}^{g}), and lump-sum subsidies, (Sub_{t} ).
Letting (C_{t}^{g}) and (I_{t}^{g} ) denote real per capita public purchases and public investment, respectively, we have the following nominal relationship: (P_{At}G_{t}=P_{At}(C_{t}^{g}+I_{t}^{g}) +(1+tau ^{sc})P_{t}w_{t}^{g}N_{t}^{g}).
Similar(53)
Public purchasing is still deeply corrupt.
The official kits for six sports will be made available for public purchase from April.
Social landlord procurers are usually responsible for making sure their organisation complies with public purchasing laws.
Many proposals designed to achieve this are complicated both by their sole reliance on public purchasing and the difficulties in pricing assets.
The deal is the largest public purchase of property ever by the town and it now must decide what to do with the land.
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