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Full-Text Articles in Macroeconomics
The Distributional And Countercyclical Effects Of Public Capital Investment In Transportation Infrastructure, Matthijs B. Schendstok
The Distributional And Countercyclical Effects Of Public Capital Investment In Transportation Infrastructure, Matthijs B. Schendstok
Theses and Dissertations--Economics
While the long run productivity of federal highway infrastructure spending has been well researched, their short run effects and effects on income inequality. This dissertation explores those under-researched unconventional effects.
In the first chapter, I investigate the effects of federal infrastructure grants on income inequality. I find that grants reduce inequality in both recipient and neighboring states. The reduction is driven by greater income among the bottom three income quintiles. I explore two mechanisms using person level data and find that the reduction in inequality is attributable to higher income for low-skilled workers and workers working in low-skilled industries.
In …
The Macroeconomic Effects Of Tax News, Sandeep Kumar Rangaraju
The Macroeconomic Effects Of Tax News, Sandeep Kumar Rangaraju
Theses and Dissertations--Economics
This dissertation explores the effect of tax news on national and state-level economic activity.
In the first chapter, I explore the effect of tax news on state economic activity. I estimate a factor-augmented vector autoregression (FAVAR) model, which allows us to consider the possibility that unobserved regional factors --such as credit and fiscal conditions-- might be relevant for modelling the dynamic response of aggregate and state-level economic activity. Tax news is identified as a shock to the implicit tax rate, measured by the yield spread between the one year tax-exempt municipal bond and the one-year taxable Treasury bond. My results …