Beijing has undergone rapid urbanisation from 1950-2010. The main built-up area expanded concentrically from 100 to 1210 km2. Its urban fringe became popular for new developments, some placed haphazardly. The government concentrated efforts in "stopping concentric fringe expansion". E.g. on...

Urban structures and urban growth rates are highly persistent. This has far-reaching implications for the optimal size and timing of new construction. We prove that rational developers postpone construction not because prospects are gloomy, but because they are bright. The slow mean reversion in...

We examine the effect of a large-scale administrative reorganization in China, where counties are annexed into cities to accommodate urban growth. We present a simple model to illustrate how this annexation may affect firm entry decisions and in turn land market outcomes. Using nationwide data...