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Private Demands for Public Capital: Evidence from School Bond Referenda

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Author Info
Ed Balsdon () (Department of Economics, San Diego State University)
Eric Brunner () (Department of Economics, San Diego State University)
Kim Rueben (Public Policy Institute of California)

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Abstract

This paper develops a framework for estimating demand for school infrastructure investment that is financed through local bond referenda. Our framework takes explicit account of the irregular and discrete nature of local capital investment and the objective functions of local school boards. Our empirical model consists of a three-equation system composed of a proposed spending equation, a vote equation, and a selection equation. Estimated income and price elasticities of demand for school infrastructure are similar to those found in studies of current school spending. We also find that school boards act like risk-averse, budget-maximizing agenda-setters.

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File URL: http://www-rohan.sdsu.edu/dept/econ/WPSeries/WorkingPaper0305.pdf
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Publisher Info
Paper provided by San Diego State University, Department of Economics in its series Working Papers with number 0009.

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Length: 36 pages
Date of creation: Jan 2003
Date of revision:
Handle: RePEc:sds:wpaper:0009

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Related research
Keywords: School Infrastructure Investment; Agenda Setting;

Other versions of this item:

Find related papers by JEL classification:
H40 - Public Economics - - Publicly Provided Goods - - - General
H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
I22 - Health, Education, and Welfare - - Education - - - Educational Finance

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Eric J. Brunner & Stephen L. Ross, 2009. "Is the Median Voter Decisive? Evidence of 'Ends Against the Middle' From Referenda Voting Patterns," Working papers 2009-02, University of Connecticut, Department of Economics. [Downloadable!]
  2. Eric J. Brunner & Stephen L. Ross, 2007. "How Decisive Is the Decisive Voter?," Working papers 2007-28, University of Connecticut, Department of Economics, revised Aug 2008. [Downloadable!]
  3. Joshua Hall, 2006. "Fiscal competition and tax instrument choice: the role of income inequality," Economics Bulletin, Economics Bulletin, vol. 8(12), pages 1-8. [Downloadable!]
  4. Stephanie Riegg Cellini & Fernando Ferreira & Jesse Rothstein, 2008. "The Value of School Facilities: Evidence from a Dynamic Regression Discontinuity Design," NBER Working Papers 14516, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Ed Balsdon, 2007. "Property Value Capitalization And Municipal Open Space Referenda," Working Papers 0019, San Diego State University, Department of Economics. [Downloadable!]
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This page was last updated on 2009-11-3.

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