After a long period of suburbanization, cities have been in vogue again since the 1980s. But why are people prepared to spend far more money on a small house in the city centre than on a large house in the countryside - and why doesn't this apply to all cities? The authors of this book argue...

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...