Description
Book SynopsisPolicy makers often call for increased spending on infrastructure, which can encompass a broad range of investments, from roads and bridges to digital networks that will expand access to high-speed broadband. Some point to the near-term macroeconomic benefits, such as job creation, associated with infrastructure spending; others point to the long-term effects of such spending on productivity and economic growth.Economic Analysis and Infrastructure Investment explores the links between infrastructure investment and economic outcomes, analyzing key economic issues in the funding and management of infrastructure projects. It includes new research on the short-run stimulus effects of infrastructure spending, develops new estimates of the stock of US infrastructure capital, and explores incentive aspects of public-private partnerships with particular attention to their allocation of risk. The volume provides a reference for researchers seeking to study infrastructure issues and for policymakers tasked with determining the appropriate level and allocation of infrastructure spending.
Table of ContentsAcknowledgments
Introduction Edward L. Glaeser and James M. Poterba
1. Measuring Infrastructure in BEA’s National Economic Accounts Jennifer Bennett, Robert Kornfeld, Daniel Sichel, and David Wasshausen
Comment: Peter Blair Henry
2. Can America Reduce Highway Spending? Evidence from the States Leah Brooks and Zachary Liscow
Comment: Clifford Winston
3. Transportation Infrastructure in the US Gilles Duranton, Geetika Nagpal, and Matthew A. Turner
Comment: Stephen J. Redding
4. The Macroeconomic Consequences of Infrastructure Investment Valerie A. Ramey
Comment: Jason Furman
5. Procurement Choices and Infrastructure Costs Dejan Makovšek and Adrian Bridge
Comment: Shoshana Vasserman
6. When and How to Use Public-Private Partnerships in Infrastructure: Lessons from the International Experience Eduardo Engel, Ronald D. Fischer, and Alexander Galetovic
Comment: Keith Hennessey
7. A Fair Value Approach to Valuing Public Infrastructure Projects and the Risk Transfer in Public-Private Partnerships Deborah Lucas and Jorge Jimenez Montesinos
Comment: R. Richard Geddes
8. Digital Infrastructure Shane Greenstein
Comment: Catherine Tucker
Contributors
Author Index
Subject Index
