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The Economic Value of Cultural Diversity: Evidence from US Cities
Ottaviano, Gianmarco; Peri, Giovanni - C.E.P.R. Discussion Papers - 2004
We use data on wages and rents in different US cities to assess the amenity effects on production and consumption of cultural diversity as measured by diversity of countries of birth of city residents. We show that US-born citizens living in metropolitan areas where the share of foreign-born...
Persistent link: https://www.econbiz.de/10005792376
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How Urbanization Affect Employment and Social Interactions
Sato, Yasuhiro; Zenou, Yves - C.E.P.R. Discussion Papers - 2014
We develop a model where the unemployed workers in the city can find a job either directly or through weak or strong ties. We show that, in denser areas, individuals choose to interact with more people and meet more random encounters (weak ties) than in sparsely populated areas. We also...
Persistent link: https://www.econbiz.de/10011084303
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The Geography of Development within Countries
Desmet, Klaus; Henderson, J Vernon - C.E.P.R. Discussion Papers - 2014
This chapter describes how the spatial distribution of economic activity changes as economies develop and grow. We start with the relation between development and rural-urban migration. Moving beyond the coarse rural-urban distinction, we then focus on the continuum of locations in an economy...
Persistent link: https://www.econbiz.de/10011084674
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Spatial Asset Pricing: A First Step
Ortalo-Magné, François; Prat, Andrea - C.E.P.R. Discussion Papers - 2010
People choose where to live and how much to invest in housing. Traditionally, the first decision has been the domain of spatial economics, while the second has been analyzed in finance. Spatial asset pricing is an attempt to combine equilibrium concepts from both disciplines. In the finance...
Persistent link: https://www.econbiz.de/10008468506
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New Economic Geography: an appraisal on the occasion of Paul Krugman's 2008 Nobel Prize in Economics
Fujita, Masahisa; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 2008
Paul Krugman has clarified the microeconomic underpinnings of both spatial economic agglomerations and regional imbalances at national and international levels. He has achieved this with a series of remarkably original papers and books that succeed in combining imperfect competition, increasing...
Persistent link: https://www.econbiz.de/10005497703
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Property Tax and Urban Sprawl. Theory and Implications for U.S. Cities
Song, Yan; Zenou, Yves - C.E.P.R. Discussion Papers - 2005
This article attempts a formal analysis of the connection between property tax and urban sprawl in U.S. cities. We develop a theoretical model that includes households (who are also landlords) and land developers in a regional land market. We then test the model empirically based on a national...
Persistent link: https://www.econbiz.de/10005067619
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How to make the metropolitan area work? Neither big government, nor laissez-faire
Gaigné, Carl; Riou, Stéphane; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 2013
We study how political boundaries and fiscal competition interact with the labor and land markets to determine the economic structure and performance of metropolitan areas. Contrary to general belief, institutional fragmentation need not be welfare-decreasing, and commuting from the suburbs to...
Persistent link: https://www.econbiz.de/10011084227
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Who Benefits from Regional Trade Agreements? The View from the Stock Market
Moser, Christoph; Rose, Andrew K - C.E.P.R. Discussion Papers - 2011
The effects of Regional Trade Agreements (RTAs) are disputed. In this paper, we assess these effects using capital market data and an event-study approach, using a daily data set covering a thousand announcements spanning over eighty economies and a hundred RTAs over twenty recent years. We...
Persistent link: https://www.econbiz.de/10009293663
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Wealth and Inheritance in the Long Run
Piketty, Thomas; Zucman, Gabriel - C.E.P.R. Discussion Papers - 2014
inheritance. Wealth-income ratios, inherited wealth, and wealth inequalities were high in the 18th-19th centuries up untilWorldWar …-of-tax rate of return on wealth and g is the economy's growth rate. This suggests that current trends toward rising wealth-income … productivity growth, and because of rising international competition to attract capital. …
Persistent link: https://www.econbiz.de/10011083954
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Money Demand in Ireland, 1933-2012
Gerlach, Stefan; Stuart, Rebecca - C.E.P.R. Discussion Papers - 2014
Using annual data from several sources, we study the evolution of M1, M2, income, prices and long and short interest … rates in Ireland over the period 1933-2012. We find cointegration and that prices, income and interest rates are weakly … relatively high income elasticity, and detect parameter instability. We estimate a short-run M2 demand function that passes a …
Persistent link: https://www.econbiz.de/10011084447