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Full-Text Articles in Regional Economics
Does "Trickle Down" Work?: Economic Development Strategies And Job Chains In Local Labor Markets, Joseph Persky, Daniel Felsenstein, Virginia Carlson
Does "Trickle Down" Work?: Economic Development Strategies And Job Chains In Local Labor Markets, Joseph Persky, Daniel Felsenstein, Virginia Carlson
Upjohn Press
Persky, Felsenstein, and Carlson explore a new framework for evaluating state and local economic development efforts. They propose a method, referred to as the “job-chains approach,” that they say clarifies the potential justifications for economic development subsidies as well as the limitations surrounding these efforts. This innovative approach addresses not only the number of job vacancies created as a result of a subsidized business investment or expansion, but also the extent to which gains are achieved by the unemployed and the underemployed, whether skilled or unskilled.
Who Benefits From State And Local Economic Development Policies?, Timothy J. Bartik
Who Benefits From State And Local Economic Development Policies?, Timothy J. Bartik
Upjohn Press
Bartik reviews evidence on whether state and local policies affect job growth. He then presents empirical data supporting the intentions of such programs, showing that job growth may lead to a number of positive long-term effects including: lower unemployment, higher labor force participation, higher real estate values, and better occupational opportunities. He also shows that the earnings gains to disadvantaged groups outweigh the resulting increased real estate values for property owners, and concludes by saying that regional competition for jobs may actually be a benefit for the nation as a whole.