Bright Minds, Big Rent: Gentrification and the Rising Returns to Skill

L. Edlund, Cecilia Machado, María Micaela Sviatschi
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引用次数: 75

Abstract

In 1980, housing prices in the main US cities rose with distance to the city center. By 2010, that relationship had reversed. We propose that this development can be traced to greater labor supply of high-income households through reduced tolerance for commuting. In a tract-level data set covering the 27 largest US cities, years 1980-2010, we employ a city-level Bartik demand shifter for skilled labor and find support for our hypothesis: full-time skilled workers favor proximity to the city center and their increased presence can account for the observed price changes, notably the rising price premium commanded by centrality.
聪明的头脑,高昂的租金:中产阶级化和不断上升的技能回报
1980年,美国主要城市的房价随着距离市中心的远近而上涨。到2010年,这种关系发生了逆转。我们认为,这种发展可以追溯到高收入家庭通过减少通勤容忍度而增加的劳动力供给。在覆盖美国27个最大城市1980-2010年的区域级数据集中,我们对熟练劳动力采用了城市级Bartik需求转移,并找到了我们假设的支持:全职技术工人倾向于靠近市中心,他们的增加可以解释观察到的价格变化,特别是中心性所导致的价格溢价上升。
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