This paper shows that the capitalization of local amenities is effectively priced into land via a two-part pricing formula: a \ticket" price paid regardless of the amount of housing service consumed and a \slope" price paid per unit of services. We first show theoretically how tickets arise as...

This paper studies the impact of regional housing and land stock allocations on carbon emissions and the role for policy therein. It first measures the role of home sizes and population densities in determining differences between U.S. urban areas in carbon footprint of their residents, which...

Historical anecdotes of new investors being drawn into a booming asset market, only to suffer when the market turns, abound. While the role of investor contagion in asset bubbles has been explored extensively in the theoretical literature, causal empirical evidence on the topic is virtually...

We develop a new dynamic general equilibrium model of firm location choice that can explain the observed sorting of firms by productivity and is consistent with the observed entry, exit, and relocation decisions of firms within an urban economy. We discuss existence of equilibrium of and...

The share of high-skilled workers in U.S. cities is positively correlated with city size, and this correlation strengthened between 1980 and 2010. Furthermore, during the same time period, the U.S. economy experienced a significant structural transformation with regard to industrial composition,...

What determines where businesses and households locate? Location decisions can affect the economic health of cities and metropolitan areas. But as Jeffrey Brinkman explains, how firms, residents, and workers go about choosing where to locate can involve complex interactions with sometimes...