Cities under stress

• 成果类型: Article
• 署名作者: Rossi-Hansberg, E
• 署名单位: Stanford University
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2004.04.007
• 发表日期: 2004
• 页码: 903-927
• 关键词: externalities; land rents; TERRORISM; urban structure; city dynamics

摘要

This paper studies the effect of terrorist attacks on the internal structure of cities. We develop an urban framework with capital structures suitable for the study of this question and analyze the long and short term implications of this type of events. In the long run, the analysis shows that a terrorist attack will affect urban structure only modestly, relative to the potentially large decrease in the level of economic activity in the city. Land rents will not decline at all locations. In the short run, agglomeration forces will amplify the effect of the original destruction and will reduce urban economic activity temporarily. (C) 2004 Elsevier B.V. All rights reserved.