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Infrastructure and social welfare in metropolitan America

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  • Andrew F. Haughwout

Abstract

Public infrastructure investment may indirectly affect firm productivity and household welfare through its impact on the location of economic activity. Existing infrastructure policies encourage firms and households to move from dense urban environments to the surrounding suburbs. Nevertheless, several recent studies have suggested that the concentration of producers and consumers within cities results in "agglomeration economies" that are socially beneficial. In light of these findings, the author recommends the creation of infrastructure investment authorities that would have the power to select and finance projects that promote the overall well-being of a given region. Such authorities would most likely direct a larger share of infrastructure investment to the central cities.

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Bibliographic Info

Article provided by Federal Reserve Bank of New York in its journal Economic Policy Review.

Volume (Year): (2001)
Issue (Month): Dec ()
Pages: 1-16

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Handle: RePEc:fip:fednep:y:2001:i:dec:p:1-16:n:v.7no.3

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Related research

Keywords: Industrial location ; Infrastructure (Economics) ; Investments ; Public welfare;

References

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  1. Andrew Haughwout & Robert Inman & Steven Craig & Thomas Luce, 2000. "Local Revenue Hills: A General Equilibrium Specification with Evidence from Four U.S. Cities," NBER Working Papers 7603, National Bureau of Economic Research, Inc.
  2. Antonio Ciccone & Robert E. Hall, 1995. "Productivity and the density of economic activity," Economics Working Papers 120, Department of Economics and Business, Universitat Pompeu Fabra.
  3. Holtz-Eakin, Douglas, 1994. "Public-Sector Capital and the Productivity Puzzle," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 12-21, February.
  4. Gramlich, Edward M, 1994. "Infrastructure Investment: A Review Essay," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1176-96, September.
  5. Jeremy B. Rudd, 2000. "Assessing the productivity of public capital with a locational equilibrium model," Finance and Economics Discussion Series 2000-23, Board of Governors of the Federal Reserve System (U.S.).
  6. Cutler, David M & Glaeser, Edward L, 1997. "Are Ghettos Good or Bad?," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 827-72, August.
  7. David Alan Aschauer, 1990. "Why is infrastructure important?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 34, pages 21-68.
  8. Richard Voith, 1998. "Transportation investments in the Philadelphia metropolitan area: who benefits? Who pays? And what are the consequences?," Working Papers 98-7, Federal Reserve Bank of Philadelphia.
  9. Edward L. Glaeser, 1998. "Are Cities Dying?," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 139-160, Spring.
  10. Brueckner, Jan K. & Wingler, Thomas L., 1984. "Public intermediate inputs, property values, and allocative efficiency," Economics Letters, Elsevier, vol. 14(2-3), pages 245-250.
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  14. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
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  16. Voith Richard, 1993. "Changing Capitalization of CBD-Oriented Transportation Systems: Evidence from Philadelphia, 1970-1988," Journal of Urban Economics, Elsevier, vol. 33(3), pages 361-376, May.
  17. Haughwout, Andrew F., 1997. "Central city infrastructure investment and suburban house values," Regional Science and Urban Economics, Elsevier, vol. 27(2), pages 199-215, April.
  18. Brueckner, Jan K., 1979. "Property values, local public expenditure and economic efficiency," Journal of Public Economics, Elsevier, vol. 11(2), pages 223-245, March.
  19. McDonald, John F. & Osuji, Clifford I., 1995. "The effect of anticipated transportation improvement on residential land values," Regional Science and Urban Economics, Elsevier, vol. 25(3), pages 261-278, June.
  20. Catherine J. Morrison & Amy Ellen Schwartz, 1992. "State Infrastructure and Productive Performance," NBER Working Papers 3981, National Bureau of Economic Research, Inc.
  21. Douglas Holtz-Eakin & Amy Ellen Schwartz, 1995. "Spatial Productivity Spillovers from Public Infrastructure: Evidence from State Highways," NBER Working Papers 5004, National Bureau of Economic Research, Inc.
  22. Douglas Holtz-Eakin & Amy Schwartz, 1995. "Spatial productivity spillovers from public infrastructure: Evidence from state highways," International Tax and Public Finance, Springer, vol. 2(3), pages 459-468, October.
  23. Garcia-Mila, Teresa & McGuire, Therese J & Porter, Robert H, 1996. "The Effect of Public Capital in State-Level Production Functions Reconsidered," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 177-80, February.
  24. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  25. Shoup, Carl S., 1989. "Rules for Distributing a Free Government Service Among Areas of a City," National Tax Journal, National Tax Association, vol. 42(2), pages 103-21, June.
  26. Boarnet, Marlon G. & Haughwout, Andrew F., 2000. "Do Highways Matter? Evidence and Policy Implications of Highways' Influence on Metropolitan Development," University of California Transportation Center, Working Papers qt5rn9w6bz, University of California Transportation Center.
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Cited by:
  1. Jacinto Brito González, 2004. "Conocimiento, geografía e instituciones: Una aproximación a la problemática del crecimiento en el archipiélago canario," Documentos de trabajo conjunto ULL-ULPGC 2004-03, Facultad de Ciencias Económicas de la ULPGC.

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