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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

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

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

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

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

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

Reverse mortgage loans: a quantitative analysis

Nakajima, Makoto; Telyukova, Irina A. - Federal Reserve Bank of Philadelphia - 2014

Supersedes Working Paper 13-27. Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth …

Persistent link: https://www.econbiz.de/10010930296

Home production and Social Security reform

Dotsey, Michael; Li, Wenli; Yang, Fang - Federal Reserve Bank of Philadelphia - 2012

This paper incorporates home production into a dynamic general equilibrium model of overlapping generations with endogenous retirement to study Social Security reforms. As such, the model differentiates both consumption goods and labor effort according to their respective roles in home...

Persistent link: https://www.econbiz.de/10010551329

Foreclosures and house price dynamics: a quantitative analysis of the mortgage crisis and the foreclosure prevention policy

Chatterjee, Satyajit; Eyigungor, Burcu - Federal Reserve Bank of Philadelphia - 2009

This paper is superseded by WP 15-15 <p>The authors construct a quantitative equilibrium model of the housing market in … which an unanticipated increase in the supply of housing triggers default mortgages via its effect on house prices. The … decline in house prices creates an incentive to increase the consumption of housing space, but leverage makes it costly for …

Persistent link: https://www.econbiz.de/10008627173