The Financing of a Public Utility

Eric Smith and Martin Shubik
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Eric Smith: Santa Fe Institute

No 1863, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: The interaction of capital stock with overlapping generations is investigated where the time structures of human capital and other physical capital does not match. We consider the economies with either gold or fiat as the outside money and consider the financing problems that appear in the financing of capital stock. The complexity of the underlying physical structure combined with concern for efficiency and equity help to determine the financial structure.

Keywords: Capital stock; Time scales; Fiat; Gold; Joint product (search for similar items in EconPapers)
JEL-codes: C73 D24 E22 E41 (search for similar items in EconPapers)
Pages: 83 pages
Date: 2012-06
New Economics Papers: this item is included in nep-dge
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Working Paper: The Financing of a Public Utility (2012)
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