Abstract

http://ssrn.com/abstract=1987656
 


 



Public Infrastructure Investment, Renewed Economic Growth, and the U.S. Fiscal Position


Robert C. Hockett


Cornell University - Law School

Robert H. Frank


Cornell University - Department of Economics

January 18, 2012

Cornell Legal Studies Research Paper No. 2-04

Abstract:     
We show that large-scale debt-financed public infrastructure spending, in addition to (a) generating growth and employment on a similarly large scale and (b) significantly reducing inefficiency-generated public and private costs economy-wide, will also (c) be substantially “self-financing” by dint of the revenue gains that it likewise will generate. Not to pursue such projects now, moreover, with (a) labor, material, and financing costs at historic lows, and (b) cost-acceleration set to kick-in in the very near future, will itself occasion large-scale implicit costs. Insofar as these investments are agreed by all to be necessary at some point, now is that point.

Number of Pages in PDF File: 35

Keywords: Mortgages, mortgage debt, mortgage relief, bridge loans, bridge loan assistance, foreclosure prevention, housing

working papers series





Download This Paper

Date posted: January 19, 2012  

Suggested Citation

Hockett, Robert C. and Frank, Robert H., Public Infrastructure Investment, Renewed Economic Growth, and the U.S. Fiscal Position (January 18, 2012). Cornell Legal Studies Research Paper No. 2-04. Available at SSRN: http://ssrn.com/abstract=1987656 or http://dx.doi.org/10.2139/ssrn.1987656

Contact Information

Robert C. Hockett (Contact Author)
Cornell University - Law School ( email )
524 College Ave
Myron Taylor Hall
Ithaca, NY 14853
United States
Robert Frank
Cornell University - Department of Economics ( email )
414 Uris Hall
Ithaca, NY 14853-7601
United States
607-255-8501 (Phone)
607-254-4590 (Fax)
Feedback to SSRN


Paper statistics
Abstract Views: 762
Downloads: 135
Download Rank: 129,905

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo7 in 0.313 seconds