| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16970 |
| 来源ID | Working Paper 16970 |
| On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States | |
| Marco Bassetto; Leslie McGranahan | |
| 发表日期 | 2011-04-21 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | In this paper, we investigate the relationship between public capital spending and population dynamics at the state level. Empirically, we document two robust facts. First, states with faster population growth do not spend more (per capita) to accommodate the needs of their growing population. Second, states whose population is more likely to leave do tend to spend more per capita than states with low gross emigration rates. To interpret these facts, we introduce an explicit, quantitative political-economy model of government spending determination, where mobility and population growth generate departures from Ricardian equivalence by shifting some of the costs and benefits of public projects to future residents. The magnitude of the empirical response of capital spending to mobility is at the upper end of what can be explained by the theory with a plausible calibration. In the model, more mobile voters favor more spending because the maturity of states' debt is very long term and costs are shifted into the future more than benefits. |
| 主题 | Macroeconomics ; Fiscal Policy ; Public Economics ; Public Goods ; Subnational Fiscal Issues |
| URL | https://www.nber.org/papers/w16970 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574645 |
| 推荐引用方式 GB/T 7714 | Marco Bassetto,Leslie McGranahan. On the Relationship Between Mobility, Population Growth, and Capital Spending in the United States. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16970.pdf（1093KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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