| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18767 |
| 来源ID | Working Paper 18767 |
| Evaluating Durable Public Good Provision using Housing Prices | |
| Stephen Coate | |
| 发表日期 | 2013-02-01 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | Recent empirical work in public finance uses the housing price response to public investments to assess the efficiency of local durable public good provision. This paper investigates the theoretical foundations for this technique. In the context of a novel theoretical model developed to study the issue, it shows that there is little justification for the technique if citizens have rational expectations concerning future investment in their communities. An example in which investment is chosen by a budget-maximizing bureaucrat is developed to show why the technique can falsely predict under-provision. The technique is valid, however, when citizens have adaptive expectations, believing that whatever provision level that currently prevails will be maintained indefinitely. |
| 主题 | Public Economics ; Public Goods ; Subnational Fiscal Issues |
| URL | https://www.nber.org/papers/w18767 |
| 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/576441 |
| 推荐引用方式 GB/T 7714 | Stephen Coate. Evaluating Durable Public Good Provision using Housing Prices. 2013. |
| 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 | ||
| w18767.pdf（308KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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