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Urban Population and Amenities: The Neoclassical Model of Location / David Albouy, Bryan Stuart.
- Format:
- Book
- Author/Creator:
- Albouy, David.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w19919.
- NBER working paper series no. w19919
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Urban Population and Amenities
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2014.
- Summary:
- We analyze a neoclassical general-equilibrium model to explain cross-metro variation in population, density, and land supply based on three amenity types: quality-of-life, productivity in tradables, and productivity in non-tradables. We develop a new method to estimate elasticities of housing and land supply, and local-productivity estimates, from cross-sectional density and land-area data. From wage and housing-cost indices, the model explains half of U.S. density and total population variation, and finds that quality of life determines locations more than employment opportunities. We show how changing quality of life, relaxing land-use regulations, or neutralizing federal taxes can redistribute populations massively.
- Notes:
- Print version record
- February 2014.
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