作者：Autor, David H.; Palmer, Christopher J.; Pathak, Parag A.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：We measure the capitalization of housing market externalities into residential housing values by studying the unanticipated elimination of stringent rent controls in Cambridge, Massachusetts, in 1995. Pooling data on the universe of assessed values and transacted prices of Cambridge residential properties between 1988 and 2005, we find that rent decontrol generated substantial, robust price appreciation at decontrolled units and nearby never-controlled units, accounting for a quarter of the $7...
作者：Behrens, Kristian; Duranton, Gilles; Robert-Nicoud, Frederic
作者单位：University of Quebec; University of Quebec Montreal; University of Pennsylvania; University of Geneva
摘要：Large cities produce more output per capita than small cities. This higher productivity may occur because more talented individuals sort into large cities, because large cities select more productive entrepreneurs and firms, or because of agglomeration economies. We develop a model of systems of cities that combines all three elements and suggests interesting complementarities between them. The model can replicate stylized facts about sorting, agglomeration, and selection in cities. It also ge...
