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Labor Expenditures and Benefit-Cost Accounting in Times of Unemployment

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  • Haveman, Robert H.
  • Farrow, Scott

Abstract

We summarize procedures for assessing the benefits and costs of using labor inputs in public projects. Examples are provided to illustrate how information on labor inputs can be analyzed and presented such that, should the analyst choose, labor services generate elements of both benefit and cost in times of high unemployment; however, this is not generally correct in times of full employment. Our analysis is consistent with the overall goal of identifying those projects which are estimated to improve efficiency—those with social benefits in excess of social costs.

Suggested Citation

  • Haveman, Robert H. & Farrow, Scott, 2011. "Labor Expenditures and Benefit-Cost Accounting in Times of Unemployment," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 2(2), pages 1-9, April.
    • Handle: RePEc:cup:jbcoan:v:2:y:2011:i:02:p:1-9_00
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    Cited by:

    1. Adam Rose, 2015. "Macroeconomic consequences of terrorist attacks: estimation for the analysis of policies and rules," Chapters, in: Carol Mansfield & V. K. Smith (ed.), Benefit–Cost Analyses for Security Policies, chapter 8, pages 172-200, Edward Elgar Publishing.
    2. Timothy J. Bartik, 2014. "How Effects of Local Labor Demand Shocks Vary with Local Labor Market Conditions," Upjohn Working Papers 14-202, W.E. Upjohn Institute for Employment Research.
    3. Federica Ricaldi & Peter Mousley, 2019. "Measuring Jobs-Linked Externalities in Private Investment Projects," World Bank Publications - Reports 33855, The World Bank Group.
    4. Lindgren, Petter Y. & Presterud, Ane Ofstad, 2021. "Expanding the Norwegian Armed Forces in the Time of Corona: Benefit-Cost Analysis in the Context of High Unemployment Rate," MPRA Paper 106405, University Library of Munich, Germany.
    5. Laird, James J. & Mackie, Peter J., 2014. "Wider economic benefits of transport schemes in remote rural areas," Research in Transportation Economics, Elsevier, vol. 47(C), pages 92-102.
    6. Gillespie, Rob & Kragt, Marit E., 2012. "Accounting for Nonmarket Impacts in a Benefit-Cost Analysis of Underground Coal Mining in New South Wales, Australia," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 3(2), pages 1-29, May.
    7. Timothy J. Bartik, 2013. "Social Costs of Jobs Lost Due to Environmental Regulations," Upjohn Working Papers 13-193, W.E. Upjohn Institute for Employment Research.
    8. Vitaliano, Donald F., 2012. "An Empirical Estimate of the Labor Response Function for Benefit-Cost Analysis," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 3(3), pages 1-12, August.
    9. Timothy J. Bartik, 2015. "The Social Value of Job Loss and Its Effect on the Costs of U.S. Environmental Regulations," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 9(2), pages 179-197.
    10. U.S. Environmental Protection Agency (EPA), 2011. "Handbook on the Benefits, Costs, and Impacts of Land Cleanup and Reuse," Environmental Economics Guidance Documents 348897, United States Environmental Protection Agency (EPA).

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