In recent years, housing booms have caused ghost town phenomena in many cities such as Dublin, Madrid, Dubai, etc. This paper derives a theoretical model to illustrate how activities of producers and rent seekers affect housing price booms in city centers and surrounding areas due to...

International trade models typically consider countries exchanging goods/services, while urban models often examine the consequences of domestic trade for city structure. Relatively little known research synthesizes these to allow for shocks propagating domestically with both domestic and...