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Knowledge spillovers and the new economy of cities

Carlino, Gerald A.; Chatterjee, Satyajit; Hunt, Robert - Federal Reserve Bank of Philadelphia - 2001

Despite much theorizing about the role of geographic concentration of employment in knowledge spillovers, local densities' role in promoting innovations has largely been unexamined. More often, studies have considered the effects of city size variables on innovative activity, although the role...

Persistent link: https://www.econbiz.de/10005512267

Urban decline and housing reinvestment: the role of construction costs and the supply side

Gyourko, Joseph; Saiz, Albert - Federal Reserve Bank of Philadelphia - 2003

decaying housing markets. But what is the role of housing supply? Rational entrepreneurs should not invest in new buildings and … relatively modest 10 percent decline in replacement costs would find between 7-15 percent of the local housing stock moving from …

Persistent link: https://www.econbiz.de/10005387471

Matching and learning in cities: urban density and the rate of invention

Carlino, Gerald; Chatterjee, Satyajit; Hunt, Robert - Federal Reserve Bank of Philadelphia - 2005

This paper examines the role local labor markets play in the production of innovations. The authors appeal to a labor market matching model (á la Berliant, Reed, and Wang 2004) to argue that in dense urban areas, workers are more selective in their matches and are therefore more productive....

Persistent link: https://www.econbiz.de/10005389683

Technological adaptation, cities and new work

Lin, Jeffrey - Federal Reserve Bank of Philadelphia - 2009

Where does adaptation to innovation take place? The author presents evidence on the role of agglomeration economies in the application of new knowledge to production. All else equal, workers are more likely to be observed in new work in locations that are initially dense in both college...

Persistent link: https://www.econbiz.de/10004967543

Estimating a dynamic equilibrium model of firm location choices in an urban economy

Brinkman, Jeffrey; Coen-Pirani, Daniele; Sieg, Holger - Federal Reserve Bank of Philadelphia - 2012

We develop a new dynamic general equilibrium model to explain firm entry, exit, and relocation decisions in an urban economy with multiple locations and agglomeration externalities. We characterize the stationary distribution of firms that arises in equilibrium. We estimate the parameters of the...

Persistent link: https://www.econbiz.de/10010585877

Portage: path dependence and increasing returns in U.S. history

Bleakley, Hoyt; Jeffrey Lin. - Federal Reserve Bank of Philadelphia - 2010

The authors examine portage sites in the U.S. South, Mid-Atlantic, and Midwest, including those on the fall line, a geomorphologic feature in the southeastern U.S. marking the final rapids on rivers before the ocean. Historically, waterborne transport of goods required portage around the falls...

Persistent link: https://www.econbiz.de/10008643752

Congestion, agglomeration, and the structure of cities

Brinkman, Jeffrey C. - Federal Reserve Bank of Philadelphia - 2013

Congestion pricing has long been held up by economists as a panacea for the problems associated with ever increasing traffic congestion in urban areas. In addition, the concept has gained traction as a viable solution among planners, policymakers, and the general public. While congestion costs...

Persistent link: https://www.econbiz.de/10010661490

Does the U.S. tax treatment of housing promote suburbanization and central city decline?

Gyourko, Joseph; Voith, Richard - Federal Reserve Bank of Philadelphia - 1997

This paper examines the role of U.S. housing-related tax expenditures in creating incentives for decentralization and … interest and property taxes make housing less expensive relative to other goods and, hence, increase the quantity of housing … the consumption of housing services, they lower the cost of geographic sorting by income typically associated with …

Persistent link: https://www.econbiz.de/10005512268

The tax treatment of housing: its effects on bounded and unbounded communities

Voith, Richard; Gyourko, Joseph - Federal Reserve Bank of Philadelphia - 1998

This paper examines the potential impact of the federal tax treatment of housing, which provides tax advantages that … treatment of housing is likely to have impacts on older, developed communities with fixed boundaries, such as central cities … authors show that the tax treatment of housing not only increases the incentives for lower density development, but it also …

Persistent link: https://www.econbiz.de/10005512282

The life-cycle effects of house price changes

Li, Wenli; Yao, Rui - Federal Reserve Bank of Philadelphia - 2005

. The model explicitly incorporates the dual feature of housing as both a consumption good and an investment asset and … allows for costly adjustments in housing and mortgage positions. Li and Yao's analysis indicates that although house price …. In particular, the non-housing consumption of young and old homeowners is much more sensitive to house price changes than …

Persistent link: https://www.econbiz.de/10005512289