In recent decades, gentrification has transformed American central city neighborhoods. I estimate a spatial equilibrium model to show that the rising value of high-skilled workers’ time contributes to the gentrification of American central cities. I show that the increasing value of time...

Since the 1970's, American inner cities, particularly in the northeast, have undergone significant economic, structural and aesthetic changes. Many cities with predominantly blue collar work forces have found it difficult to adjust to the changing demands of the market place. An economic...

In 1980, housing prices in the main US cities rose with distance to the city center. By 2010, that relationship had reversed. We propose that this development can be traced to greater labor supply of high-income households through reduced tolerance for commuting. In a tract-level data set...