Complementarity and the Discount Rate for Public Investment
研究税收扭曲经济中公共投资的边际回报率，发现其权重不仅取决于资金来源比例，还取决于公共与私人投资的互补或替代程度。
The marginal rate of return on public investment in a tax-distorted economy is a weighted average of the marginal social productivity of capital in the private sector and the marginal social rate of time preference, but the weights are shown to depend not only on the proportions of funding obtained from each source through incremental borrowing but also on the degree of complementarity or substitutability between public and private investment.