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Gentrification and the Rising Returns to Skill / Lena Edlund, Cecilia Machado, Maria Micaela Sviatschi.
- Format:
- Book
- Author/Creator:
- Edlund, Lena.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w21729.
- NBER working paper series no. w21729
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2015.
- Summary:
- In 1980, housing prices in large US cities rose with distance from the city center. By 2010, that relationship had reversed. We propose that the inversion can be traced to more hours worked by the skilled. Scarce non-market time downgrades the importance of residential space and upgrades that of proximity to work, factors favoring the central-city location. Geo- coded census micro data covering the 27 largest US cities and the period 1980-2010 support our hypothesis: full-time skilled workers are more likely to locate in the city center and their growth can account for the observed price changes.
- Notes:
- Print version record
- November 2015.
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