Highway grants: roads to prosperity?

Federal highway grants to states appear to boost economic activity in the short and medium term. The short-term effects appear to be due largely to increases in aggregate demand. Medium-term effects apparently reflect the increased productive capacity brought by improved roads. Overall, each dollar of federal highway grants received by a state raises that state’s annual economic output by at least two dollars, a relatively large multiplier.

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Year of publication:	2012
Authors:	Leduc, Sylvain ; Wilson, Daniel
Published in:	FRBSF Economic Letter. - Federal Reserve Bank of San Francisco. - 2012, 35
Publisher:	Federal Reserve Bank of San Francisco
Subject:	Roads \| Transportation \| Infrastructure (Economics)

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Extent:	text/html application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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