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| Author: | Sprunger, P. Wilson, J. |
| Title: | Imperfectly mobile households and durable local public goods: does the capitalization mechanism work? |
| Journal: | Journal of Urban Economics
1998 : NOV, VOL. 44:3, p. 468-492 |
| Index terms: | URBAN AREAS ECONOMICS CONSUMER DURABLES |
| Language: | eng |
| Abstract: | A complication in the decision making of local governments is that a community's residents may move before the future benefits associated with current tax and expenditure policies are fully realized. It has been argued that the capitalization of these benefits into current property values can induce local governments to behave efficiently. This paper drops two assumptions behind the capitalization hypothesis: perfect labor mobility and the absence of uncertainty about the future benefits. |
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