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Impacts of Highway Infrastructure Investment Under the American Recovery and Reinvestment Act

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  • Cho, Seong-Hoon
  • Lee, Daegoon
  • Lambert, Dayton M.
  • Roberts, Roland K.

Abstract

This study evaluated the impact on highway demand of highway disbursements under the American Recovery and Reinvestment Act (ARRA). Vehicle miles traveled were used to estimate a highway demand equation employing a spatial Durbin model for the 48 contiguous U.S. states during 1994-2008. Estimates from the equation were used to test the hypothesis that highway disbursements caused different upward shifts in the highway demand curves of states. We estimated $8.2 billion in total net benefits for the 48 states as a result of the $27.2 billion in ARRA highway disbursements, yielding an average net benefit of $0.30 per dollar spent.

Suggested Citation

  • Cho, Seong-Hoon & Lee, Daegoon & Lambert, Dayton M. & Roberts, Roland K., 2016. "Impacts of Highway Infrastructure Investment Under the American Recovery and Reinvestment Act," Journal of the Transportation Research Forum, Transportation Research Forum, vol. 55(2), August.
    • Handle: RePEc:ags:ndjtrf:262663
    DOI: 10.22004/ag.econ.262663
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    3. Christina D Romer, 2009. "Fiscal Policy and Economic Recovery," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 44(3), pages 132-135, July.
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