Efficient Nash equilibria in a federal economy with migration costs
Article Abstract:
An economy of two regions inhabited by similar individuals and where interregional migration is expensive is presented. First best-efficiency, with migration controls, and federal efficiency, sans migration controls, were correlated. It was demonstrated that first-best efficiency, unlike federal efficiency, needs optimization of the total product net of migration cost. Moreover, it was established that decentralized equilibrium allocations are federally efficient but not necessarily first-best efficient.
Publication Name: Regional Science & Urban Economics
Subject: Social sciences
ISSN: 0166-0462
Year: 1997
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Does public infrastructure affect economic activity? Evidence from the rural interstate highway system
Article Abstract:
A new study uses US data between 1969 and 1993 to investigate the link between large infrastructure spending, such as interstate highway building, and economic growth.
Publication Name: Regional Science & Urban Economics
Subject: Social sciences
ISSN: 0166-0462
Year: 2000
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