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Title: Valuing Public Goods More Generally: The Case of Infrastructure

Citation Type: Working Paper

Publication Year: 2017

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Abstract: 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.

Url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2981752

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Authors: Albouy, David; Farahani, Arash

Series Title: Upjohn Institute working paper

Publication Number: 17-272

Institution: Upjohn Institute

Pages: 53

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Data Collections: IPUMS CPS

Topics: Labor Force and Occupational Structure, Other

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