Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If You Use a Screen Reader

This content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.

The Structure of Local Public Finance and the Quality of Life

Joseph Gyourko and Joseph Tracy
Journal of Political Economy
Vol. 99, No. 4 (Aug., 1991), pp. 774-806
Stable URL: http://www.jstor.org/stable/2937780
Page Count: 33
  • Read Online (Free)
  • Download ($14.00)
  • Subscribe ($19.50)
  • Cite this Item
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
The Structure of Local Public Finance and the Quality of Life
Preview not available

Abstract

Differences in local fiscal conditions generate compensating differentials across local land and labor markets just as we have long known amenities to do. Thus the fiscal climate affects the quality of life across metropolitan areas. We present new results showing that intercity fiscal differentials are nearly as important as amenity differentials in determining the quality of life across urban areas. The paper also investigates the sensitivity of the quality-of-life rankings with respect to assumptions about the nature of the marginal entrant. We estimate a random effects model to account for city-specific error components in the housing and wage regressions. Those results indicate that the standard errors of previous OLS-based quality-of-life rankings have been biased downward substantially. More encompassing data on city traits as well as superior controls for worker and housing quality are needed to increase the precision of quality-of-life estimates.

Page Thumbnails

  • Thumbnail: Page 
774
    774
  • Thumbnail: Page 
775
    775
  • Thumbnail: Page 
776
    776
  • Thumbnail: Page 
777
    777
  • Thumbnail: Page 
778
    778
  • Thumbnail: Page 
779
    779
  • Thumbnail: Page 
780
    780
  • Thumbnail: Page 
781
    781
  • Thumbnail: Page 
782
    782
  • Thumbnail: Page 
783
    783
  • Thumbnail: Page 
784
    784
  • Thumbnail: Page 
785
    785
  • Thumbnail: Page 
[786]
    [786]
  • Thumbnail: Page 
787
    787
  • Thumbnail: Page 
788
    788
  • Thumbnail: Page 
789
    789
  • Thumbnail: Page 
790
    790
  • Thumbnail: Page 
791
    791
  • Thumbnail: Page 
792
    792
  • Thumbnail: Page 
793
    793
  • Thumbnail: Page 
794
    794
  • Thumbnail: Page 
795
    795
  • Thumbnail: Page 
796
    796
  • Thumbnail: Page 
797
    797
  • Thumbnail: Page 
798
    798
  • Thumbnail: Page 
799
    799
  • Thumbnail: Page 
800
    800
  • Thumbnail: Page 
801
    801
  • Thumbnail: Page 
802
    802
  • Thumbnail: Page 
803
    803
  • Thumbnail: Page 
804
    804
  • Thumbnail: Page 
805
    805
  • Thumbnail: Page 
806
    806