National Expenditures on Local Amenities
نویسنده
چکیده
A significant fraction of GDP is generated by implicit expenditures on spatially varying nonmarket amenities such as climate, public goods, urban infrastructure, and pollution. People pay for these amenities indirectly, through spatial variation in housing prices, wages and property taxes. In this paper we construct a new database of 75 amenities, match it to location choices made by 5 million households, and estimate their amenity expenditures in a way that is consistent with principles of satellite accounting and fundamentals of spatial sorting behavior. We find that amenity expenditures were $562 billion in 2000—8% of all U.S. personal consumption expenditures.
منابع مشابه
The Role of Local Amenities in the National Economy
Consumers value nonmarket amenities such as climate, public goods, infrastructure, and pollution. They pay for these localized amenities indirectly, through spatial variation in housing prices and wages. In this paper, we develop a macroeconomic measure of indirect amenity expenditures that is consistent with microeconomic fundamentals of spatial equilibrium and principles of national income ac...
متن کاملConsumption Amenities and City Crowdedness
Crowdedness varies widely among U.S. cities. A simple, static general equilibrium model suggests that plausible differences in metro areas’ consumption amenities can account for much of the observed variation. Under a baseline calibration, differences in amenities valued at 30 percent of average consumption expenditures suffice to support a twenty-fold difference in population density. Empirica...
متن کاملLocal Fiscal Policies and Urban Wage Structures
It has long been recognized that average wages vary strikingly across regions and urban areas, in part due to differences in local amenities and fiscal policies. However, analogous differences in wage dispersion remain relatively unexplored. We develop a model suggesting that, after accounting for individual characteristics, wage dispersion across income groups should reflect differences in the...
متن کاملBuying Into Bohemia: the Impact of Cultural Amenities on Property Values
Communities in both Europe and North America are encouraging the development of cultural amenities as a strategy for improving quality of life, attracting and retaining productive workers, and promoting urban revitalization. If these policies are effective then the presence of cultural amenities should increase the local demand for housing, and the value of cultural amenities should be reflecte...
متن کاملبررسی تأثیر تمرکززدایی مالی بر رشد اقتصادی استان های مختلف ایران
In recent years, the economists have been deliberately thinking about the idea of fiscal decentralization, i.e. transfer of decision-making authority from central government to local institutes (in proportion to composition of expenditures and revenues). A good number of researches were conducted to know its effect on economic variables such as economic growth. Great strides were made in Iran t...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2014