Characterizing the Optimal Composition of Government Expenditures

This paper extends the neoclassical growth model with productive public capital by including an infrastructure efficiency index, which is assumed to depend on a public choice variable, in particular, the share of public spending allocated to productive public consumption. A golden rule for the allocation of public expenditure between productive consumption and investment is specified. Under this framework, the observed path for the stock of infrastructures and the proposed efficiency index in the US economy during the last fifty years have been close to optimal: a lower stock of infrastructures has been accumulated, but it has been used more efficiently.Public Expenditure Composition, Public Investment, Public Consumption, Nominal and Effective Infrastructures, Infrastructures Efficiency Index

Characterizing the Optimal Composition of Government Expenditures

This paper extends the neoclassical growth model with productive public capital by including an infrastructure efficiency index, which is assumed to depend on a public choice variable, in particular, the share of public spending allocated to productive public consumption. A golden rule for the allocation of public expenditure between productive consumption and investment is specified. Under this framework, the observed path for the stock of infrastructures and the proposed efficiency index in the US economy during the last fifty years have been close to optimal: a lower stock of infrastructures has been accumulated, but it has been used more efficiently.Este artículo extiende el modelo neoclásico de crecimiento con capital público productivo mediante la incorporación de un índice de eficiencia de las infraestructuras. Este índice se supone dependiente de una variable de elección del gobierno, en concreto, el porcentaje del gasto público destinado a consumo público productivo. Se propone una regla de oro para la distribución del gasto público entre consumo productivo e inversión. Bajo este contexto, las sendas temporales observadas en los últimos cincuenta años en la economía estadounidense para el stock de infraestructuras y el índice de eficiencia propuesto han sido cercanas a las sendas óptimas:se ha acumulado un menor stock de infraestructuras, pero también se ha utilizado de forma más eficiente.Neoclassical growth model, Public spending.

Bryophytes from the Republic of Equatorial Guinea (West Central Africa) : 3., contribution to the bryoflora of Rio Muni (continental region)

First results of the identification work of the collections made by Patxi Heras on Río Muni, the continental part of Equatorial Guinea, are offered. A list of 155 taxa (85 liverworts and 70 mosses) is included, 90 of them being new records for the country.Se ofrecen los primeros resultados del trabajo de identificación realizado en el material recolectado por Patxi Heras en Río Muni o Región Continental (Guinea Ecuatorial). Se incluye una lista de 155 táxones (85 hepáticas y 70 musgos), de los cuales 90 son novedad para el país

Bryophytes from the Republic of Equatorial Guinea (West Central Africa) : 6., Cololejeunea iradieri sp. nov., Cololejeunea magna stat. nov. and their relations to similar species

The group of African Cololejeunea species with a heart-shaped perianth and elongate marginal leaf cells has been studied. Cololejeunea iradieri is described as new from Equatorial Guinea (West Central Africa), while Cololejeunea harrisii Pócs var. magna Tix. is raised to species level. Their relations to similar species, C. amaniensis Pócs, C. harrisii Pócs and C. tenuiparietata Tix., are discussed.Se ha estudiado el grupo de especies africanas del género Cololejeunea con periantio en forma de corazón y células foliares marginales elongadas. Se describe Cololejeunea iradieri como especie nueva de Guinea Ecuatorial (Africa Centro-Occidental), mientras C. harrisii Pócs var. magna Tix. es elevada al rango de especie. Se discuten sus relaciones con sus especies afines C. amaniensis Pócs, C. harrisii Pócs y C. tenuiparietata Tix

Bryophytes from the Republic of Equatorial Guinea (West-Central Africa) : 1., introduction and preliminary checklist

A preliminary list consisting of 159 bryophyte taxa (82 liverworts and 77 mosses) has been compiled from the bryological literature on the Republic of Equatorial Guinea (Central-Western Africa) until 1995. A general overview of the physical features and vegetation of the country, and an account of the history of its bryological exploration are also included.Se han reunido en un catálogo preliminar los 159 táxones de briófitos (82 hepáticas y 77 musgos) de la República de Guinea Ecuatorial (Africa Centro-Occidental) conocidos a partir de la bibliografía hasta 1995. Se ha actualizado la nomenclatura y se incluye una descripción general del medio físico y de la vegetación del país, así como un resumen de la historia de su exploración briológica

Bryophytes from the Republic of Equatorial Guinea (West Central Africa) : 4., notes on some nomina nuda from Annobon

Eight moss species corresponding to nomina nuda recorded in the literature from Annobon Island are listed with their recent determination and current names. Leucophanes unguiculatum, Philonotis uncinata var. glaucescens and Vesicularia strephomischos are new records for the Equatorial Guinean bryoflora.Se citan con su identificación correcta y sus nombres actuales ocho especies de musgos procedentes de la isla de Annobón y registrados en la bibliografía como nomina nuda. Leucophanes unguiculatum, Philonotis uncinata var. glaucescens y Vesicularia strephomischos son nuevos registros para la brioflora de la República de Guinea Ecuatorial