Title

The Financing of a Public Utility

Document Type

Discussion Paper

Publication Date

6-1-2012

CFDP Number

1863

CFDP Pages

83

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.

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