Department of Economics
Date of this Version
June 2008
Abstract
This article analyzes determinants of growth across labor markets in the United States, using a production function approach based on four inputs: labor, manufacturing investment, human capital investment, and public capital investment. We find little role for public capital investment in growth, but that manufacturing investment spurred growth in nonmetropolitan areas, in contrast to metropolitan areas. We also find that human capital investment mattered more for metropolitan areas than for nonmetropolitan areas. Further, the presence of more colleges and universities, more household amenities, and lower tax rates are all found to have encouraged human capital accumulation in U.S. labor markets.
Comments
Published in American Journal of Agricultural Economics 90:3 (2008), pp. 783–793; doi 10.1111/j.1467-8276.2008.01135.x Copyright © 2008 American Agricultural Economics Association; published by John Wiley& Sons, Inc. http://www3.interscience.wiley.com/journal/118482046/home Used by permission.