Evaluating the economic effects of a new state-funded school building program: the prevailing wage issue

Two economic simulation models were used to study the economic impact of complying with prevailing-wage requirements in a $10 billion school construction program in New Jersey. Our econometric and input–output models suggest that compliance with the prevailing-wage statute will generate over $6 billion in personal income, a little more than $11 billion in gross state product, about 45,000 new jobs, and over $1.3 billion in state and local tax revenues will be created. If prevailing-wage requirements are not followed, there will be an impact on these results, and the extent of the impact depends markedly on the degree to which non-prevailing-wage workers spend their earnings in New Jersey and pay taxes. In general, prevailing-wage compliance has positive benefits for income and taxes. Non-prevailing wage construction should create more construction jobs, but these jobs create fewer additional jobs in the economy.

使用了两个经济模拟模型来研究在新泽西州一项100亿美元的学校建设项目中遵守现行工资要求所产生的经济影响。我们的计量经济学模型和投入 - 产出模型表明，遵守现行工资法规将产生超过60亿美元的个人收入、略高于110亿美元的州生产总值、约4.5万个新工作岗位，并将创造超过13亿美元的州和地方税收收入。如果不遵守现行工资要求，将会对这些结果产生影响，且影响程度明显取决于未获得现行工资的工人在新泽西州的消费和纳税程度。总体而言，遵守现行工资规定对收入和税收有积极的益处。不按现行工资标准施工应该会创造更多的建筑工作岗位，但这些岗位在经济中创造的额外工作岗位较少。