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Housing Constraints and Spatial Misallocation / Chang-Tai Hsieh, Enrico Moretti.
- Format:
- Book
- Author/Creator:
- Hsieh, Chang-Tai.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w21154.
- NBER working paper series no. w21154
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2015.
- Summary:
- We quantify the amount of spatial misallocation of labor across US cities and its aggregate costs. Misallocation arises because high productivity cities like New York and the San Francisco Bay Area have adopted stringent restrictions to new housing supply, effectively limiting the number of workers who have access to such high productivity. Using a spatial equilibrium model and data from 220 metropolitan areas we find that these constraints lowered aggregate US growth by more than 50% from 1964 to 2009.
- Notes:
- Print version record
- May 2015.
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