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Determinants of Income Growth in U.S. Metropolitan and Non-metropolitan Labor Markets

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Author Info

  • George W. Hammond

    (Bureau of Business and Economic Research, West Virginia University)

  • Eric Thompson

    (Department of Economics and Bureau of Business Research, University of Nebraska)

Abstract

This research analyzes determinants of growth across U.S. labor market regions,using a production function approach based on four inputs: labor, manufacturing investment, human capital investment, and public capital investment. We find significant differences in the relative influence of growth determinants between metropolitan and non-metropolitan regions during the 1969-1999 period. We find little role for public capital investment in either metropolitan or non-metropolitan regions, but that manufacturing investment tended to spur growth in non-metropolitan regions, in contrast to results for metropolitan regions. We find that human capital matters for both metropolitan and non-metropolitan regions, but that increased human capital investment in metropolitan regions may have a larger impact on growth than in non-metropolitan regions. Further, the presence of more colleges and universities, more household amenities, and lower tax rates were all found to encourage human capital accumulation in U.S. labor market areas.

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File URL: http://www.be.wvu.edu/phd_economics/pdf/06-12.pdf
File Function: First version, 2006
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Bibliographic Info

Paper provided by Department of Economics, West Virginia University in its series Working Papers with number 06-12 Classification- JEL: O40, R11.

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Length: 35 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:wvu:wpaper:06-12

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Web page: http://www.be.wvu.edu/phd_economics/
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Related research

Keywords: metropolitan; non-metropolitan; Constant-Elasticity-of-Substitution; Solow growth model; Income growth;

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References

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  1. Glaeser, Edward L. & Scheinkman, JoseA. & Shleifer, Andrei, 1995. "Economic growth in a cross-section of cities," Journal of Monetary Economics, Elsevier, vol. 36(1), pages 117-143, August.
  2. Winford H. Masanjala & Chris Papageorgiou, 2004. "The Solow model with CES technology: nonlinearities and parameter heterogeneity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(2), pages 171-201.
  3. Quah, Danny, 1993. "Galton's Fallacy and Tests of the Convergence Hypothesis," CEPR Discussion Papers 820, C.E.P.R. Discussion Papers.
  4. Simon, Curtis J., 1998. "Human Capital and Metropolitan Employment Growth," Journal of Urban Economics, Elsevier, vol. 43(2), pages 223-243, March.
  5. James E. Rauch, 1991. "Productivity Gains From Geographic Concentration of human Capital: Evidence From the Cities," NBER Working Papers 3905, National Bureau of Economic Research, Inc.
  6. repec:fth:stanho:e-95-4 is not listed on IDEAS
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Citations

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Cited by:
  1. George W. Hammond & Eric C. Thompson, 2008. "Determinants of Income Growth in Metropolitan and Nonmetropolitan Labor Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(3), pages 783-793.
  2. George W. Hammond & Mehmet S. Tosun, 2011. "The Impact Of Local Decentralization On Economic Growth: Evidence From U.S. Counties," Journal of Regional Science, Wiley Blackwell, vol. 51(1), pages 47-64, 02.

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