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Finance and Economics Discussion Series
The Finance and Economics Discussion Series logo links to FEDS home page Assessing the Productivity of Public Capital with a Locational Equilibrium Model
Jeremy B. Rudd

Abstract: This paper employs Roback's locational-equilibrium model of public-goods pricing, cross-sectional data from the Census of Population and Housing, and SMSA-level estimates of public capital stocks in order to examine the productive contribution of public capital. I find that public capital has a small positive impact on private output.

Keywords: Public capital, infrastructure, productivity

Full paper (187 KB PDF)

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Last update: May 17, 2000