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Regional macroeconomic outcomes under alternative arrangements for the financing of public infrastructure*

James Giesecke, Peter Dixon and Maureen Rimmer

Papers in Regional Science, 2008, vol. 87, issue 1, 3-31

Abstract: Abstract. We use a dynamic multi‐regional CGE model (MMRF) to evaluate the regional macroeconomic consequences of four methods of financing a program of regional government infrastructure provision. The methods are developer charges, debt, payroll tax and residential rates. We demonstrate that the net gains from a program of public infrastructure development are quite sensitive to the chosen financing means. The net gains are greatest under rates and debt financing, and least under developer charges and payroll tax financing. Abstract. Usamos un modelo CGE multirregional dinámico (MMRF) para evaluar las consecuencias macroeconómicas regionales de cuatro métodos de financiación de un programa de financiamiento de infraestructura por parte de un gobierno regional. Los métodos son cargas al contratista (developer charges), deuda, impuestos salariales y contribución urbana. Demostramos que el beneficio neto de un programa de desarrollo de infraestructura pública es bastante sensible a los medios de financiación elegidos. El beneficio neto es mayor mediante la financiación por contribución y deuda, y menor con la financiación por cargas al contratista e impuestos salariales.

Date: 2008
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