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Determinants of Income Growth in Metropolitan and Nonmetropolitan Labor Markets

Posted: 17 Jun 2008  

George W. Hammond

West Virginia University - College of Business & Economics

Eric C. Thompson

University of Nebraska at Lincoln - Department of Economics

Date Written: 2007-11

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.

Suggested Citation

Hammond, George W. and Thompson, Eric C., Determinants of Income Growth in Metropolitan and Nonmetropolitan Labor Markets (2007-11). American Journal of Agricultural Economics, Vol. 90, Issue 3, pp. 783-793, August 2008. Available at SSRN: https://ssrn.com/abstract=1146679 or http://dx.doi.org/10.1111/j.1467-8276.2008.01135.x

George W. Hammond (Contact Author)

West Virginia University - College of Business & Economics ( email )

Bureau of Business and Economic Research
Morgantown, WV 26506
United States

Eric C. Thompson

University of Nebraska at Lincoln - Department of Economics ( email )

Lincoln, NE 68588-0489
United States

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