nep-ure New Economics Papers
on Urban and Real Estate Economics
Issue of 2014‒10‒13
35 papers chosen by
Steve Ross
University of Connecticut
  1. Assessing Polycentric Urban Systems in the OECD: Country, Regional and Metropolitan Perspectives By Monica Brezzi; Paolo Veneri
  2. A dynamic spatial model of rural-urban transformation with public goods By Biller, Dan; Andres, Luis; Cuberes, David
  3. A Comparison of Residential Location Theories: the Perth Metropolitan Housing Market 1980/1990 Creation Date: 1992 By K. Robertson
  4. Change and Persistence in the Economic Status of Neighborhoods and Cities By Stuart Rosenthal; Stephen L. Ross
  5. Does Immigration Induce "Native Flight" from Public Schools into Private Schools? By Fairlie, Robert
  6. The spatial persistence of population and wealth during apartheid: comparing the 1911 and 2011 censuses By Waldo Krugell
  7. Spatial Income Inequality in Chile and the Rol of Spatial Labor Sorting By Dusan Paredes Araya; Tomothy M Komarek
  8. The Spatial Evolution of Regional GDP Disparities in the 'Old' and the 'New' Europe By Maarten Bosker
  9. The Impact of High School Exit Exams on Graduation Rates and Achievement By Katherine Caves; Simone Balestra
  10. Exogenous Spatial Interactions in Europe By Lassaad JEBALI; Amira ZGUIRA
  11. Fiscal Policy, Housing and Stock Prices By António AFONSO; Ricardo SOUSA
  12. New Road Transport Infrastructure and Sectoral Regional Growth: A SCGE Analysis for the A4 Extension to the Austrian-Hungarian Border By Alfried BRAUMANN; Christoph SCHMID
  13. A Hedonic Price Model of Consumer Demand for Urban Land Attributes Creation Date: 1984 By C.J. Barnett
  14. Urban Clusters As Strategy For Productive Restructuring and Urban Regenerarion: From San Francisco Mission Bay to Sao Paulo Railroad Brownfield By Carlos Leite
  15. Modeling the Interaction Between Industries and Services Sectors´ Agglomeration in the European Union By Astrid KRENZ
  16. ntreatreg: a Stata module for estimation of treatment effects in the presence of neighborhood interactions By Giovanni Cerulli
  17. Alternative Approaches to the Family Cycle in the Analysis of Housing Choice Creation Date: 1981 By P.B. McLeod; J.R. Ellis
  18. Romes without Empires: Urban Concentration, Political Competition, and Economic Growth By Mehmet ULUBASOGLU; Cem KARAYALCIN
  19. Forecasting US Real House Price Returns over 1831-2013: Evidence from Copula Models By Rangan Gupta; Anandamayee Majumdar
  20. Cities: Reactors for Economic Transactions By Ionut PURICA
  21. Regional Unemployment Rate Convergence in Israel By Natalia PRESSMAN; Vadim KLEPFISH
  22. Can State and Local Revenue and Expenditure Enhance Economic Growth? A Cross-State Panel Study of Fiscal Activity By Christopher Arthur Clarke; Stephen M. Miller
  23. Moving from Risk to Resilience: Sustainable Urban Development in the Pacific By Asian Development Bank (ADB); ; ;
  24. Impact of School Quality on Student Achievements: Evidence from a Twin Survey in Japan By NAKAMURO Makiko; OSHIO Takashi; INUI Tomohiko
  25. The Nature of Regional Unemployment in Italy By Matteo Lanzafame
  26. The Network Effects of Air-Travel Demand By Yanhao Wei
  27. Endogenous Location and Commuting Choice in a Labour-market Search Model By Morten Marott Larsen
  28. Human Capital Accumulation and Geography: Empirical Evidence in the European Union By Jesús López-rodríguez; J.Andres Faina Medin
  29. Commercial Property Price Indexes and the System of National Accounts By Diewert, Erwin W.; Fox, Kevin J.; Shimizu, Chihiro
  30. Better Together? Retail Chain Performance Dynamics in Store Expansion Before and After Mergers By Mitsukuni Nishida; Nathan Yang
  31. Credit access after consumer bankruptcy filing: new evidence By Jagtiani, Julapa; Li, Wenli
  32. Willingness to Pay for Airline Services Attributes: Microeconometric Evidence from a Stated Preference Discrete Choice Model By António Menezes; José Vieira
  33. Interstate Trade and Regional Development: An Interregional CGE Approach By HADDAD Eduardo; DOMINGUES Edson
  34. The Impact of a Minimum Regional Wage on the Parana's Economy: an Application of the Iguassu CGE Model By Cassio Rolim
  35. The Geographical Concentration of Unemployment: a Male-female Comparison in Spain By Olga Alonso-Villar; Coral Del Rio
  1. By: Monica Brezzi; Paolo Veneri
    Abstract: Contemporary urban systems in OECD countries are structured around functional regions, which often overcome established city boundaries. Reading space in terms of functional regions allows assessing changes in urban hierarchies and spatial structures, including the polycentricity of urban systems at national, regional and metropolitan scale. By using a harmonised definition of functional urban areas in OECD countries, this paper first provides a sound definition of polycentricity at each spatial scale, highlighting for each of them the different links with policy. Second, it provides measures of polycentricity and explores the economic implications of different spatial structures. Results show that relatively more monocentric regions have higher GDP per capita than their more polycentric counterparts. At country level, on the other hand, polycentricity is associated with higher GDP per capita.
    Keywords: polycentricity, urban system, Spatial structure
    JEL: R11 R12 R14 R58
    Date: 2014–04–14
    URL: http://d.repec.org/n?u=RePEc:oec:govaab:2014/1-en&r=ure
  2. By: Biller, Dan; Andres, Luis; Cuberes, David
    Abstract: This paper develops a dynamic model that explains the pattern of population and production allocation in an economy with an urban location and a rural one. Agglomeration economies make urban dwellers benefit from a larger population living in the city and urban firms become more productive when they operate in locations with a larger labor force. However, congestion costs associated with a too large population size limit the process of urban-rural transformation. Firms in the urban location also benefit from a public good that enhances their productivity. The model predicts that in the competitive equilibrium the urban location is inefficiently small because households fail to internalize the agglomeration economies and the positive effect of public goods in urban production.
    Keywords: Economic Theory&Research,Population Policies,Urban Housing and Land Settlements,National Urban Development Policies&Strategies,Labor Policies
    Date: 2014–10–01
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:7051&r=ure
  3. By: K. Robertson
    URL: http://d.repec.org/n?u=RePEc:uwa:wpaper:92-23&r=ure
  4. By: Stuart Rosenthal (Syracuse University); Stephen L. Ross (University of Connecticut)
    Abstract: This paper reviews recent literature that considers and explains the tendency for neighborhood and city-level economic status to rise and fall. A central message is that although many locations exhibit extreme persistence in economic status, change in economic status as measured by various indicators of per capita income is common. At the neighborhood level, we begin with a set of stylized facts, and then follow with discussion of static and dynamic drivers of neighborhood economic status. This is mirrored at the metropolitan level. Durable but slowly decaying housing, transportation infrastructure, and self-reinforcing spillovers, all influence local income dynamics, as do enduring natural advantages, amenities and government policy. Three recurring themes run throughout the paper: (i) Long sweeps of time are typically necessary to appreciate that change in economic status is common; (ii) history matters; and (iii) a combination of static and dynamic forces ensure that income dynamics can and do differ dramatically across locations but in ways that can be understood.
    Keywords: Neighborhood income dynamics, city income dynamics, durable housing, transportation infrastructure, spillovers, persistence, path dependence, cycles
    JEL: R10 R20 R30
    Date: 2014–09
    URL: http://d.repec.org/n?u=RePEc:hka:wpaper:2014-018&r=ure
  5. By: Fairlie, Robert
    Abstract: The paper tests whether native-born American families respond to inflows of immigrants by sending their children to private school.  The analysis uses 1980 and 1990 Census data from 132 metropolitan areas.  For primary school students, no significant relation between immigration and private school enrollment is found.  For secondary schools, a significant link emerges.  For every four immigrants who arrive in public high schools, it is estimated that one native student switches to a private school.  White students account for most of this flight.  Natives appear to respond mainly to immigrant children who speak a language other than English at home.
    Keywords: Education, Social and Behavioral Sciences, education, native flight, immigration, private school, inequality
    Date: 2014–09–23
    URL: http://d.repec.org/n?u=RePEc:cdl:ucscec:qt85s5v99k&r=ure
  6. By: Waldo Krugell
    Abstract: This article examines the spatial distribution of people and wealth in South Africa over the period 1911 to 2011. Economic development is typically characterised by agglomeration, but Apartheid policies tried to separate people and disperse economic activity. Zipf’s Law is used to examine the balance of these forces. The results show that Apartheid’s interventions could not stop agglomeration, which seems to have continued to the point of over-concentration today. Wealth has become increasingly concentrated in places of initial white settlement and the large urban agglomerations.
    Keywords: apartheid, population, spatial development, Agglomeration, Zipf’s Law, South Africa
    JEL: N97 R12
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:rza:wpaper:459&r=ure
  7. By: Dusan Paredes Araya (IDEAR - Department of Economics, Universidad Católica del Norte - Chile); Tomothy M Komarek (IDEAR - Department of Economics, Universidad Católica del Norte - Chile)
    Abstract: The spatial income inequality in Latin American countries is a recent academic affair. Particularly, the case of Chile highlights around the world because it has one of the highest individual and spatial inequality rates. This article analyzes the spatial income inequality in Chile during 1992 2011 evaluating the role of the spatial labor sorting through multilevel models. The findings show that human capital doesn't allocate randomly across the space but its spatial concentration at the biggest urban centers impacts significantly the income inequality between counties. These findings motivate the discussion about spatial dimension of the inequality and suggest that policymakers should consider ways to spread human capital throughout the nation as an alternative to reduce spatial inequality.
    Keywords: Spatial income inequality, spatial labor sorting, human capital, multilevel regression.
    JEL: O15 O18 R12 R23
    Date: 2013–04
    URL: http://d.repec.org/n?u=RePEc:cat:dtecon:dt201316&r=ure
  8. By: Maarten Bosker
    URL: http://d.repec.org/n?u=RePEc:ekd:002836:283600015&r=ure
  9. By: Katherine Caves (Department of Business Administration, University of Zurich); Simone Balestra (Department of Business Administration, University of Zurich)
    Abstract: In this paper, we examine the long-term effects of high school exit exams (HSEEs)on graduation rates and achievement using an interrupted time series approach.We find that introducing a HSEE has an overall positive effect on graduation rate trends, an effect which is heterogeneous over time. In the year of introduction and the following three years we find a negative impact of HSEE on graduation rates; this negative impact is short-lived and becomes positive over the long term. We perform robustness checks using states that do not have HSEEs as control group. We also estimate a pre-intervention negative effect, suggesting that high schools start preparing for the HSEE before its actual introduction. We find no effects for achievement, possibly due to the lack of meaningful cross-state achievement data in the time period studied.
    Keywords: High school exit exams, graduation rates, achievement
    JEL: C33 I21
    Date: 2014–09
    URL: http://d.repec.org/n?u=RePEc:zrh:wpaper:346&r=ure
  10. By: Lassaad JEBALI; Amira ZGUIRA
    URL: http://d.repec.org/n?u=RePEc:ekd:002841:284100022&r=ure
  11. By: António AFONSO; Ricardo SOUSA
    URL: http://d.repec.org/n?u=RePEc:ekd:002596:259600005&r=ure
  12. By: Alfried BRAUMANN; Christoph SCHMID
    URL: http://d.repec.org/n?u=RePEc:ekd:002841:284100010&r=ure
  13. By: C.J. Barnett
    URL: http://d.repec.org/n?u=RePEc:uwa:wpaper:84-01&r=ure
  14. By: Carlos Leite
    URL: http://d.repec.org/n?u=RePEc:ekd:002836:283600053&r=ure
  15. By: Astrid KRENZ
    URL: http://d.repec.org/n?u=RePEc:ekd:002596:259600099&r=ure
  16. By: Giovanni Cerulli (Institute for Economic Research on Firms and Growth, Rome)
    Abstract: This paper presents a parametric counter-factual model identifying average treatment effects (ATEs) by conditional mean independence when externality (or neighborhood) effects are incorporated within the traditional Rubin-potential outcome model. As such, it tries to generalize the usual control-function regression, widely used in program evaluation and epidemiology, when the stable unit treatment value assumption (SUTVA) is relaxed. As a by-product, the paper also presents ntreatreg, a user-written Stata routine for estimating ATEs when social interaction may be present. Finally, an instructional application of the model and of its Stata implementation (using ntreatreg) through two examples (the first on the effect of housing location on crime; the second on the effect of education on fertility) is shown and results compared with a no-interaction setting.
    Date: 2014–09–28
    URL: http://d.repec.org/n?u=RePEc:boc:usug14:15&r=ure
  17. By: P.B. McLeod; J.R. Ellis
    URL: http://d.repec.org/n?u=RePEc:uwa:wpaper:81-07&r=ure
  18. By: Mehmet ULUBASOGLU; Cem KARAYALCIN
    URL: http://d.repec.org/n?u=RePEc:ekd:002596:259600166&r=ure
  19. By: Rangan Gupta; Anandamayee Majumdar
    Abstract: Given the existence of non-normality and nonlinearity in the data generating process of real house price returns over the period of 1831-2013, this paper compares the ability of various univariate copula models, relative to standard benchmarks (naive and autoregressive models) in forecasting real US house price over the annual out-of-sample period of 1859-2013, based on an in-sample of 1831-1858. Overall, our results provide overwhelming evidence in favor of the copula models (Normal, Student’s t, Clayton, Frank, Gumbel, Joe and Ali-Mikhail-Huq) relative to linear benchmarks, and especially for the Student’s t copula, which outperforms all other models both in terms of in-sample and out-of-sample predictability results. Our results highlight the importance of accounting for non-normality and nonlinearity in the data generating process of real house price returns for the US economy for nearly two centuries of data.
    Keywords: House Price; Copula Models; Forecasting
    JEL: C22 C53 R3
    Date: 2014–09–25
    URL: http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-585&r=ure
  20. By: Ionut PURICA
    URL: http://d.repec.org/n?u=RePEc:ekd:002841:284100031&r=ure
  21. By: Natalia PRESSMAN; Vadim KLEPFISH
    URL: http://d.repec.org/n?u=RePEc:ekd:000238:23800110&r=ure
  22. By: Christopher Arthur Clarke (Washington State University); Stephen M. Miller (University of Nevada, Las Vegas and University of Connecticut)
    Abstract: The slow economic recovery since the 2008 financial crisis and Great Recession requires state and local governments to continue to make difficult decisions concerning which taxes to raise and which expenditures to decrease in order to maintain a balanced budget. As expenditures usually raise economic growth and taxes generally hinder it, seeking the optimum combination of taxes and expenditures encourages prosperity in a state. In this paper, we study the effects of various expenditures and revenue combinations on growth in real state personal income per capita, using a sample of annual observations from 1977 to 2010 for 49 states and the District of Columbia. We find that state and local governments overfund education and parks, recreation, and natural resources while they underfund hospitals and health spending, once netted for charges and user fees. State and local governments also underutilize corporate income taxes as a source of revenue. Finally, we also estimate non-linear and short- and long-run specifications, which generally support prior findings.
    Keywords: Regional growth, state and local finance
    JEL: E62 H21 H70 O40 R11
    Date: 2014–09
    URL: http://d.repec.org/n?u=RePEc:uct:uconnp:2014-25&r=ure
  23. By: Asian Development Bank (ADB); (Pacific Department, ADB); ;
    Abstract: The Pacific is an increasingly urbanized region, with many countries struggling to cope with demands for basic urban services. This publication recommends risk reduction and adaptation measures to promote more sustainable urban development.
    Keywords: sustainable urban development, urban services, urban risk resilience, urban risk assessment, climate change, Pacific
    Date: 2014–02
    URL: http://d.repec.org/n?u=RePEc:asd:wpaper:rpt146287-2&r=ure
  24. By: NAKAMURO Makiko; OSHIO Takashi; INUI Tomohiko
    Abstract: This paper attempted to measure the causal effect of high school quality on academic achievement by estimating education production function in Japan. The authors combined school quality measures retrieved from official statistics with the large sample of twins collected through the web-based survey. This combined dataset enabled us to overcome selection bias and control for unobserved family and genetic characteristics of an individual. The results drawn from the empirical result suggest that school quality at the high school level are not associated with student achievements, but are associated with earnings measured in later life. Therefore, our answer to the specific causal question, does school quality matter in Japan, is “no” for academic achievements, but “yes” for labor market outcomes. The results also show that unobserved family components may play a crucial role in determining academic achievements.
    Date: 2013–10
    URL: http://d.repec.org/n?u=RePEc:esj:esridp:304&r=ure
  25. By: Matteo Lanzafame
    URL: http://d.repec.org/n?u=RePEc:ekd:002836:283600051&r=ure
  26. By: Yanhao Wei (Department of Economics, University of Pennsylvania)
    Abstract: As demand increases, airline carriers often increase flight frequencies to meet the larger flow of passengers in their networks, which reduces passengers' schedule delays and attracts more demand. Motivated by this, I study a structural model of the U.S. airline industry accounting for possible network effects of demand compared with previous studies, the model implies higher cost estimates, which seem more consistent with the unprofitability of the industry; below-marginal-cost pricing becomes possible and appears on many routes. I also study airline mergers and find that the network effects can be the main factor underlying their profitability.
    Keywords: Airlines, Network Effects, Flight Frequency, Merger, Networks
    JEL: L13 L93 D62 C31
    Date: 2014–09–21
    URL: http://d.repec.org/n?u=RePEc:pen:papers:14-027&r=ure
  27. By: Morten Marott Larsen
    URL: http://d.repec.org/n?u=RePEc:ekd:002836:283600052&r=ure
  28. By: Jesús López-rodríguez; J.Andres Faina Medin
    URL: http://d.repec.org/n?u=RePEc:ekd:002721:272100053&r=ure
  29. By: Diewert, Erwin W.; Fox, Kevin J.; Shimizu, Chihiro
    Abstract: The paper studies the problems associated with the construction of price indexes for commercial properties that could be used in the System of National Accounts. Property price indexes are required for the stocks of commercial properties in the Balance Sheets of the country. Related service price indexes for the land and structure input components of a commercial property are required in the Production Accounts of the country if the Multifactor Productivity of the Commercial Property Industry is calculated as part of the System of National accounts. The paper reviews existing methods for constructing an overall Commercial Property Price Index (CPPI) and concludes that most methods are biased (due to their neglect of depreciation) and more importantly, not able to provide separate land and structure subindexes. A class of hedonic regression models that is not subject to these problems is discussed.
    Keywords: Commercial property price indexes, Net Operating Income, discounted cash flow, System of National Accounts, Balance Sheets, methods of depreciation, land and structure prices, hedonic regressions, repeat sales method
    JEL: C2 C23 C43 D12 E31 R21
    Date: 2014–09
    URL: http://d.repec.org/n?u=RePEc:hit:remfce:13&r=ure
  30. By: Mitsukuni Nishida (Johns Hopkins Carey Business School); Nathan Yang (Yale School of Management)
    Abstract: We study firm performance dynamics in retail growth using a dynamic model of expansion that allow these dynamics to operate through an unobserved serially correlated process. The model is estimated with data on convenience-store chain diffusion across Japanese prefectures from 1982 to 2012, whereby an actual merger between two chains takes place in 2001. Given the presence of serial correlation and selection biases in observed revenue, we combine particle filtering methods for dynamic games with control functions in revenue regressions. The estimated structural model provides us insights about how performance dynamics evolve before and after the merger. In particular, we demonstrate that the performance dynamics for the merged entity do not improve following the merger.
    Keywords: Dynamic discrete choice; Firm size spillovers; Industry dynamics; Learning-by-doing; Market Concentration; Merger analysis; Particle filter; Revenue regression; Serial correlation
    JEL: L10 L25 L81 G34
    Date: 2014–09
    URL: http://d.repec.org/n?u=RePEc:net:wpaper:1408&r=ure
  31. By: Jagtiani, Julapa (Federal Reserve Bank of Philadelphia); Li, Wenli (Federal Reserve Bank of Philadelphia)
    Abstract: Supersedes Working Paper No. 13-24 This paper uses a unique data set to shed new light on credit availability to consumer bankruptcy filers. In particular, the authors’ data allow them to distinguish between Chapter 7 and Chapter 13 bankruptcy filings, to observe changes in credit demand and credit supply explicitly, and to differentiate existing and new credit accounts. The paper has four main findings. First, despite speedy recovery in their risk scores after bankruptcy filing, most filers have much reduced access to credit in terms of credit limits, and the impact seems to be long lasting (well beyond the discharge date). Second, the reduction in credit access stems mainly from the supply side as consumer inquiries recover significantly after the filing, while credit limits remain low. Third, new lenders do not treat Chapter 13 filers more favorably than Chapter 7 filers. In fact, Chapter 13 filers are much less likely to receive new credit cards than Chapter 7 filers even after controlling for borrower characteristics and local economic environment. Finally, the authors find that Chapter 13 filers overall end up with a slightly larger credit limit amount than Chapter 7 filers (both after the filing and after discharge) because they are able to maintain more of their old credit from before bankruptcy filing. The authors’ results cast doubt on the effectiveness of the current bankruptcy system in providing relief to bankruptcy filers and especially its recent push to get debtors into Chapter 13.
    Keywords: Bankruptcy; Credit limit; Credit performance; Financial crisis; Bankruptcy reform
    JEL: G01 G02 G28 K35
    Date: 2014–08–07
    URL: http://d.repec.org/n?u=RePEc:fip:fedpwp:14-25&r=ure
  32. By: António Menezes; José Vieira
    URL: http://d.repec.org/n?u=RePEc:ekd:002721:272100063&r=ure
  33. By: HADDAD Eduardo; DOMINGUES Edson
    URL: http://d.repec.org/n?u=RePEc:ekd:003307:330700065&r=ure
  34. By: Cassio Rolim
    URL: http://d.repec.org/n?u=RePEc:ekd:000239:23900076&r=ure
  35. By: Olga Alonso-Villar; Coral Del Rio
    URL: http://d.repec.org/n?u=RePEc:ekd:002836:283600002&r=ure
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