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Author: Duranton, Gilles
Resulting in 1 citation.
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Duranton, Gilles Puga, Diego |
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Urban Growth and Its Aggregate Implications Econometrica 91,6 (November 2023): 2219-2259. Also: https://www.econometricsociety.org/publications/econometrica/2023/11/01/Urban-growth-and-its-aggregate-implications Cohort(s): NLSY79 Publisher: Blackwell Publishing, Inc. => Wiley Online Keyword(s): Economic Growth; Entrepreneurship; Growth Model, Urban; Human Capital; Productivity Gains We develop an urban growth model where human capital spillovers foster entrepreneurship and learning in heterogeneous cities. Incumbent residents limit city expansion through planning regulations so that commuting and housing costs do not outweigh productivity gains from agglomeration. The model builds on strong microfoundations, matches key regularities at the city and economy-wide levels, and generates novel predictions for which we provide evidence. It can be quantified by relying on few parameters and gives us a basis to estimate them. We examine counterfactuals relaxing planning regulations or constraining city growth to assess the effect of cities on economic growth and aggregate output. |
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Bibliography Citation
Duranton, Gilles and Diego Puga. "Urban Growth and Its Aggregate Implications." Econometrica 91,6 (November 2023): 2219-2259.
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