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This paper examines the relationship between the quality of local labor force and variation in regional poverty outcomes among Michigan areas. A regional poverty model is derived from the household production model for that purpose. The US Census 2000 data on small geographical areas of Michigan...
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Benefit-Cost Analysis involves several steps: development of a program information structure (product categories), estimating the production function, pricing benefits and costs, adjusting for opportunity costs, choice of investment criteria, and incorporating uncertainty. Each step involves...
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