Mobility, population growth, and public capital spending in the United States

被引：4

作者：

Bassetto, Marco ^{[1
]}

McGranahan, Leslie ^{[2
]}

机构：

[1] Fed Reserve Bank Minneapolis, 90 Hennepin Ave, Minneapolis, MN 55401 USA

[2] Fed Reserve Bank Chicago, 230 S LaSalle St, Chicago, IL 60604 USA

来源：

REVIEW OF ECONOMIC DYNAMICS | 2021年 / 41卷

基金：

美国国家科学基金会;

关键词：

Public spending; Mobility; Ricardian equivalence; Political-economic equilibrium; POLITICAL-ECONOMY; TAXATION; MIGRATION; DEBT; INEQUALITY; EFFICIENCY; BENEFITS; PRICES; POLICY; RULES;

D O I：

10.1016/j.red.2021.02.014

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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. (C) 2021 Elsevier Inc. All rights reserved.

引用

页码：255 / 277

页数：23

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