Determinants of income growth in metropolitan and nonmetropolitan labor markets

George W. Hammond, Eric C Thompson

Research output: Contribution to journalArticle

16 Citations (Scopus)

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.

Original languageEnglish (US)
Pages (from-to)783-793
Number of pages11
JournalAmerican Journal of Agricultural Economics
Volume90
Issue number3
DOIs
StatePublished - Aug 1 2008

Fingerprint

economic investment
labor market
income
Economics
Growth
manufacturing
production functions
taxes
households
labor
Taxes
Income growth
Labour market
human capital
Manufacturing
Human capital investment
Metropolitan areas
Public capital
Capital investment

Keywords

  • Constant-elasticity-of-substitution
  • Income growth
  • Metropolitan
  • Nonmetropolitan
  • Solow growth model

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

Cite this

Determinants of income growth in metropolitan and nonmetropolitan labor markets. / Hammond, George W.; Thompson, Eric C.

In: American Journal of Agricultural Economics, Vol. 90, No. 3, 01.08.2008, p. 783-793.

Research output: Contribution to journalArticle

@article{a425bf0d01ef4437b335fa08d5027cf3,
title = "Determinants of income growth in metropolitan and nonmetropolitan labor markets",
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.",
keywords = "Constant-elasticity-of-substitution, Income growth, Metropolitan, Nonmetropolitan, Solow growth model",
author = "Hammond, {George W.} and Thompson, {Eric C}",
year = "2008",
month = "8",
day = "1",
doi = "10.1111/j.1467-8276.2008.01135.x",
language = "English (US)",
volume = "90",
pages = "783--793",
journal = "American Journal of Agricultural Economics",
issn = "0002-9092",
publisher = "Oxford University Press",
number = "3",

}

TY - JOUR

T1 - Determinants of income growth in metropolitan and nonmetropolitan labor markets

AU - Hammond, George W.

AU - Thompson, Eric C

PY - 2008/8/1

Y1 - 2008/8/1

N2 - 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.

AB - 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.

KW - Constant-elasticity-of-substitution

KW - Income growth

KW - Metropolitan

KW - Nonmetropolitan

KW - Solow growth model

UR - http://www.scopus.com/inward/record.url?scp=45449112366&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=45449112366&partnerID=8YFLogxK

U2 - 10.1111/j.1467-8276.2008.01135.x

DO - 10.1111/j.1467-8276.2008.01135.x

M3 - Article

VL - 90

SP - 783

EP - 793

JO - American Journal of Agricultural Economics

JF - American Journal of Agricultural Economics

SN - 0002-9092

IS - 3

ER -