Mobility, population growth, and public capital spending in the United States
| Autor: | Marco Bassetto, Leslie McGranahan |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
Government spending
Ricardian equivalence Economics and Econometrics education.field_of_study 050208 finance Cost–benefit analysis media_common.quotation_subject 05 social sciences Population Public capital Capital expenditure State (polity) 8. Economic growth 0502 economics and business Economics Population growth Demographic economics 050207 economics education media_common |
| Zdroj: | Review of Economic Dynamics. 41:255-277 |
| ISSN: | 1094-2025 |
| DOI: | 10.1016/j.red.2021.02.014 |
| Popis: | We investigate the relationship between public capital spending and population movements at the state level. We document that gross mobility is positively correlated with capital spending across states and over time within states. We introduce an explicit, dynamic quantitative model of government spending determination, where gross mobility and population growth generate departures from Ricardian equivalence by shifting some costs and benefits of public projects to future state residents. The model is able to account for a large fraction of the correlation in the data. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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