Journal
REGIONAL SCIENCE AND URBAN ECONOMICS
Volume 94, Issue -, Pages -Publisher
ELSEVIER
DOI: 10.1016/j.regsciurbeco.2021.103675
Keywords
Economic geography; Regional economics; Urban economics; Economic history
Categories
Funding
- Spanish Ministry of Economy and Competitiveness [CEX2019-000915-S, 2017-SGR-1393]
- Government of Catalonia [2017-SGR-1393]
- [FJCI-2017-34728]
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This article introduces the literature that uses quantitative general equilibrium models to study the economic impact of historical events, and discusses three key challenges and how they have been addressed.
A rapidly growing literature uses quantitative general equilibrium models of economic geography to study the economic impact of historical events such as the railroad revolution, industrial take-off, structural transformation and wars. I identify three key challenges facing this literature: the tractability of model structure, the availability of historical data, and issues related to identification. I review the literature by discussing how it has been addressing each of these challenges. While doing so, I point out the rich set of questions that this literature can address, as well as the methodological innovations it has conducted to answer these questions.
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