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Full-Text Articles in Economics
The Case For Dynamic Cities, Brian J. Asquith, Margaret C. Bock
The Case For Dynamic Cities, Brian J. Asquith, Margaret C. Bock
Upjohn Institute Working Papers
Cities today are confronting never-before-seen challenges to their top spot in the economic hierarchy. In this chapter, we lay out four challenges, past and future, that cities face today and identify policies that can help address the problems we identify. We call attention to the need for many U.S. cities to redevelop the large amount of aging postwar single-family housing, while reforming past exclusionary zoning and infrastructure decisions that exacerbated inequality. Cities will have to fix these past mistakes against the backdrop of an aging population and the rise of remote working, both of which undercut cities’ traditional source of …
Valuing Public Goods More Generally: The Case Of Infrastructure, David Albouy, Arash Farahani
Valuing Public Goods More Generally: The Case Of Infrastructure, David Albouy, Arash Farahani
Upjohn Institute Working Papers
We examine the relationship between local public goods, prices, wages, and population in an equilibrium inter-city model. Non-traded production, federal taxes, and imperfect mobility all affect how public goods (or “amenities” more broadly) should be valued from data. Reinterpreting the estimated effects of public infrastructure on prices and wages in Haughwout (2002), we find infrastructure over twice as valuable with our more general model. New estimates based on more years, cities, and data-sets indicate stronger wage and positive population effects of infrastructure. These imply higher values of infrastructure to firms, and also to households if moving costs are substantial.
Understanding The Contribution Of Highway Investment To National Economic Growth: Comments On Mamuneas’S Study, Randall W. Eberts
Understanding The Contribution Of Highway Investment To National Economic Growth: Comments On Mamuneas’S Study, Randall W. Eberts
Reports
This paper reviews and summarizes current literature by Theofanis P. Mamuneas (2008) and Mamuneas with M. Ishaq Nadiri (2003) on the returns to highway investments. This paper first provides an overview of the conceptual relationship between highways and output. The next section describes the highway capital stock estimated by Fraumeni and used by Mamuneas. Next, the paper describes the study conducted by Mamuneas and analyzes the results for consistency within the modeling framework and in context with other studies. The paper then briefly summarizes the broad range of estimates from the literature to offer additional context. Finally, the paper offers …