Finally, I have urged that public investment plans be evaluated in a long-term context, with short-term capacity limits requiring the matching of increases in public investment with counter-balancing fiscal measures if overheating pressures are to be contained. References Aguiar, Mark and Gita Gopinath (2007), “Emerging Market Business Cycles: The Cycle is the Trend,” Journal of Political Economy 115(1), 69-102.
Bloom, Nicholas, Renata Lemos, Raffaella Sadun, Daniela Scur and John Van Reenan (2014), “The New Empirical Economics of Management,” Journal of the European Economic Association 12(4), 835-876. Bluedorn, John and Daniel Leigh (2018), “Is the Cycle the Trend? Evidence from the Views of International Forecasters,” IMF Working Paper No. 18/163. Central Bank of Ireland (2018), Behaviour and Culture of the Irish Retail Banking Sector.