THE LONG‐RUN ECONOMIC IMPACTS OF FEDERAL, STATE, AND LOCAL FISCAL POLICIES IN METROPOLITAN AREAS*
利用大都市要素需求和产出供给函数的新估计，模拟了联邦、州和地方财政政策对十个大都市地区经济的影响，发现名义相同的政策在不同地区和城市的影响差异很大。
ABSTRACT. This paper uses new estimates of metropolitan factor demand and output supply functions to study how federal, state, and local fiscal policies affect metropolitan economies. We illustrate our work with findings for ten metropolitan areas in five states for changes in state corporate income taxes, local property taxes, the federal corporate income tax, an investment tax credit, interest rates, public capital stocks, output prices, and tax and regulatory policies affecting gross wages. It is clear from these simulations that a policy that is nominally the same everywhere will have repercussions that vary widely across regions and cities.