Neil Mehrotra , Matthew A. Turner , Juan Pablo Uribe
{"title":"Does the US have an infrastructure cost problem? Evidence from the interstate highway system","authors":"Neil Mehrotra , Matthew A. Turner , Juan Pablo Uribe","doi":"10.1016/j.jue.2024.103681","DOIUrl":null,"url":null,"abstract":"<div><p>Between 1984 and 2008, expenditure per Interstate vehicle mile traveled fell 10%, while the price of new lane miles and pavement quality more than doubled. To reconcile these trends, we describe an Interstate cost function for a planner who minimizes the cost required to deliver a given level of highway services. Using administrative data, we estimate prices for lane miles and pavement quality and evaluate the user cost of the Interstate. User cost fell by half between 1994–2008, largely due to falling interest rates. In this sense, there is no problem with the cost of the Interstate.</p></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":null,"pages":null},"PeriodicalIF":5.7000,"publicationDate":"2024-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Urban Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0094119024000512","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Between 1984 and 2008, expenditure per Interstate vehicle mile traveled fell 10%, while the price of new lane miles and pavement quality more than doubled. To reconcile these trends, we describe an Interstate cost function for a planner who minimizes the cost required to deliver a given level of highway services. Using administrative data, we estimate prices for lane miles and pavement quality and evaluate the user cost of the Interstate. User cost fell by half between 1994–2008, largely due to falling interest rates. In this sense, there is no problem with the cost of the Interstate.
期刊介绍:
The Journal of Urban Economics provides a focal point for the publication of research papers in the rapidly expanding field of urban economics. It publishes papers of great scholarly merit on a wide range of topics and employing a wide range of approaches to urban economics. The Journal welcomes papers that are theoretical or empirical, positive or normative. Although the Journal is not intended to be multidisciplinary, papers by noneconomists are welcome if they are of interest to economists. Brief Notes are also published if they lie within the purview of the Journal and if they contain new information, comment on published work, or new theoretical suggestions.