The Indiana Toll Road Lease as an Intergenerational Cash Transfer
成果类型：
Article
署名作者：
Gilmour, John B.
署名单位：
William & Mary; William & Mary
刊物名称：
PUBLIC ADMINISTRATION REVIEW
ISSN/ISSBN：
0033-3352
DOI：
10.1111/j.1540-6210.2012.02589.x
发表日期：
2012
页码：
856-864
关键词：
摘要：
In a recent incarnation of the public-private partnership, state or city governments agree to lease revenue-producing assets to a private operator for a lengthy period, up to 99 years. The government receives an up-front payment, allowing it to collect many years of future revenue at once. This article evaluates the distributional consequences across time of one asset lease, the Indiana Toll Road. The analysis finds that the majority of benefits, in the form of road construction, are enjoyed in the early part of the lease, while the bulk of the costs fall late in the lease, raising important questions about intergenerational fairness.
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