Finance and Economics Discussion Series (FEDS)
April 2000
Assessing the Productivity of Public Capital with a Locational Equilibrium Model
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
PDF: Full Paper
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