Urban Growth and Its Aggregate Implications

IF 6.6 1区经济学 Q1 ECONOMICS

Econometrica Pub Date : 2023-12-07 DOI:10.3982/ECTA17936

Gilles Duranton, Diego Puga

引用次数: 0

Abstract

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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城市增长及其总体影响

我们建立了一个城市增长模型，在这个模型中，人力资本溢出效应促进了异质城市的创业和学习。在职居民通过规划法规限制城市扩张，从而使通勤和住房成本不会超过集聚带来的生产率收益。该模型建立在坚实的微观基础之上，符合城市和整个经济层面的主要规律性，并得出了新的预测，我们为此提供了证据。该模型只需少量参数即可量化，并为我们提供了估计参数的基础。我们研究了放宽规划法规或限制城市增长的反事实，以评估城市对经济增长和总产出的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Econometrica 社会科学-数学跨学科应用

CiteScore

11.00

自引率

3.30%

发文量

审稿时长

6-12 weeks

期刊介绍： Econometrica publishes original articles in all branches of economics - theoretical and empirical, abstract and applied, providing wide-ranging coverage across the subject area. It promotes studies that aim at the unification of the theoretical-quantitative and the empirical-quantitative approach to economic problems and that are penetrated by constructive and rigorous thinking. It explores a unique range of topics each year - from the frontier of theoretical developments in many new and important areas, to research on current and applied economic problems, to methodologically innovative, theoretical and applied studies in econometrics. Econometrica maintains a long tradition that submitted articles are refereed carefully and that detailed and thoughtful referee reports are provided to the author as an aid to scientific research, thus ensuring the high calibre of papers found in Econometrica. An international board of editors, together with the referees it has selected, has succeeded in substantially reducing editorial turnaround time, thereby encouraging submissions of the highest quality. We strongly encourage recent Ph. D. graduates to submit their work to Econometrica. Our policy is to take into account the fact that recent graduates are less experienced in the process of writing and submitting papers.