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Mobility and Capitalization in Local Public Finance: A Reassessment

  • David A. Starrett
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    May 9, 1997 We examine models of local public finance in which separated communities offer different development packages and agents choose among these. We challenge the prevailing view that mobility of agents imposes the correct development incentives on communities through effects on land values. We develop an alternative theory of migration incentives and show that it generates an incentive to overdevelop in that it leads to communities that are too congested relative to a first best ideal

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    File URL: http://www-econ.stanford.edu/faculty/workp/swp97006.pdf
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    Paper provided by Stanford University, Department of Economics in its series Working Papers with number 97006.

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    Date of creation: 09 May 1997
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    Handle: RePEc:wop:stanec:97006
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    1. Arnott, Richard, 1979. "Optimal city size in a spatial economy," Journal of Urban Economics, Elsevier, vol. 6(1), pages 65-89, January.
    2. Berglas, Eitan, 1976. "Distribution of tastes and skills and the provision of local public goods," Journal of Public Economics, Elsevier, vol. 6(4), pages 409-423, November.
    3. Kanemoto, Yoshitsugu, 1980. "Theories of urban externalities," MPRA Paper 24614, University Library of Munich, Germany.
    4. Wilson, John Douglas, 1987. "Trade in a Tiebout Economy," American Economic Review, American Economic Association, vol. 77(3), pages 431-41, June.
    5. Starrett, David A, 1981. "Land Value Capitalization in Local Public Finance," Journal of Political Economy, University of Chicago Press, vol. 89(2), pages 306-27, April.
    6. Cooper, Russell & John, Andrew, 1988. "Coordinating Coordination Failures in Keynesian Models," The Quarterly Journal of Economics, MIT Press, vol. 103(3), pages 441-63, August.
    7. Bewley, Truman F, 1981. "A Critique of Tiebout's Theory of Local Public Expenditures," Econometrica, Econometric Society, vol. 49(3), pages 713-40, May.
    8. Starrett, David A., 1974. "Principles of optimal location in a large homogeneous area," Journal of Economic Theory, Elsevier, vol. 9(4), pages 418-448, December.
    9. Mitchell Polinsky, A. & Shavell, Steven, 1976. "Amenities and property values in a model of an urban area," Journal of Public Economics, Elsevier, vol. 5(1-2), pages 119-129.
    10. Johansson, Per-Olov, 1990. "Valuing Environmental Damage," Oxford Review of Economic Policy, Oxford University Press, vol. 6(1), pages 34-50, Spring.
    11. Solow, Robert M. & Vickrey, William S., 1971. "Land use in a long narrow city," Journal of Economic Theory, Elsevier, vol. 3(4), pages 430-447, December.
    12. repec:cup:cbooks:9780521348102 is not listed on IDEAS
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