Urban structure is increasingly characterized by decentralization, dispersion, and multiple employment centers. Much is known empirically about such patterns, and about how the interplay between agglomerative and dispersive forces generates spatial structures that are complex and prone to...

We contrast equilibrium and welfare analysis in the rental housing market under two property rights regimes – eviction rights and security of tenure – when tenants face moving costs. A tenant’s idiosyncratic benefit from his unit and a landlord’s idiosyncratic profit from conversion are...

A stationary-state perfect foresight model is developed in which housing and land are treated as investment assets convertible to each other at some costs. Investors hold either land or housing and are heterogeneous in the i. i. d idiosyncratic shocks to their conversion costs in every time...

An interview with Chicago's current mayor, Richard M. Daley: 'New York is too big this way,' the mayor says, raising a thick hand over his head. Stretching both arms out at his sides, he adds, 'Los Angeles is too big this way. All the other cities are too small. We're just right.' (Bailey and...