{"title":"Highway Capital Expenditures and Induced Vehicle Travel","authors":"Sisinnio Concas","doi":"10.2139/ssrn.2062599","DOIUrl":"https://doi.org/10.2139/ssrn.2062599","url":null,"abstract":"The authors investigate the effects of public capital investment on the demand for travel. They define capital stock as a productive flow that accounts for the physical deterioration of infrastructure over time. They present a framework where additions to capital stock only cover a portion of the long-run equilibrium level, and where policy decisions are dictated by expectations of economic and travel growth. To the extent that these investments increase productivity, they generate induced travel. Using a panel dataset at the state level for the period 1982-2005, the authors find that the elasticity of travel demand with respect to changes in state highway capital stock is equal to 0.041in the short run, while the long-run is 0.237. The results show that changes in capital expenditures in response to past levels of traffic are characterized by a three-year lag, suggesting that the investment response to changes in travel is slow to converge to the desired long-run levels.","PeriodicalId":163321,"journal":{"name":"TransportRN: Financing of Transportation (Topic)","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114174529","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sharing Risk Through Concession Contracts","authors":"P. Scandizzo, Marco Ventura","doi":"10.2139/ssrn.1618294","DOIUrl":"https://doi.org/10.2139/ssrn.1618294","url":null,"abstract":"In this paper we model concession contracts between a public and a private party, under dynamic uncertainty arising both from the volatility of the cash flow generated by the project and by the strategic behaviour of the two parties. Under these conditions we derive three notions of equilibrium price and apply the model to a case study for one of the most important concession contracts in Italy.","PeriodicalId":163321,"journal":{"name":"TransportRN: Financing of Transportation (Topic)","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134094328","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Identifying the Political Economic Tide Shaping Major Public Expenditure Trends in New Jersey During the Last Decade","authors":"R. Madhusudhan","doi":"10.2139/ssrn.2017722","DOIUrl":"https://doi.org/10.2139/ssrn.2017722","url":null,"abstract":"The paper discusses the annual trends in state expenditure in New Jersey for the period 1993-2003 and presents an analysis of expenditure composition by major program categories and source of funding. In fiscal year 2003, elementary and secondary education and Medicaid were the two single largest components, accounting for more than 40 per cent of total expenditure. Over the decade, transportation and higher education showed the highest average growth rates (about 10 per cent), while public assistance outlays fell by 10.3 per cent per year on average. Considering the source of funding, general funds account for about 65 per cent of state expenditure. Finally, the author tracks the major economic and political events that have taken place between 1993 and 2003 in order to highlight how political developments may have affected expenditure trends. The evidence suggests that Governors not running for re-election show a higher degree of freedom in choosing the level and distribution of expenditure. Several areas for future research are identified, including, studying the impact of non-recurring revenues on state spending and extending the scope of the analysis to include spending by local governments.","PeriodicalId":163321,"journal":{"name":"TransportRN: Financing of Transportation (Topic)","volume":"221 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115004342","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Long-Term Trends in Medicaid Spending by the States","authors":"Marc D. Joffe","doi":"10.2139/ssrn.3191410","DOIUrl":"https://doi.org/10.2139/ssrn.3191410","url":null,"abstract":"After remaining relatively stable between 2004 and 2010, Medicaid spending as a proportion of overall state expenditure has been rising in the current decade. This trend may be expected to continue in the states participating in Medicaid expansion as the federal share of spending on newly eligible beneficiaries falls from 100 percent in 2016 to 90 percent by 2020. The Medicaid spending increase is largely the result of greater enrollment and appears to be displacing spending on other state priorities such as education and transportation. However, I did not find strong evidence that Medicaid spending is directly leading to greater borrowing by states. After 2020, increased nursing home utilization by the Baby Boomer generation should place further upward pressure on state Medicaid expenditures.","PeriodicalId":163321,"journal":{"name":"TransportRN: Financing of Transportation (Topic)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124955668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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