期刊
JOURNAL OF URBAN ECONOMICS
卷 102, 期 -, 页码 76-90出版社
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.jue.2017.07.002
关键词
Convergence; Regulation; Land use; Migration; Housing prices
资金
- Joint Center for Housing Studies
- NBER Pre-Doctoral Fellowship in Aging and Health
- Taubman Center on State and Local Government
The past thirty years have seen a dramatic decline in the rate of income convergence across states and in population flows to high-income places. These changes coincide with a disproportionate increase in housing prices in high-income places, a divergence in the skill-specific returns to moving to high-income places, and a redirection of low-skill migration away from high-income places. We develop a model in which rising housing prices in high-income areas deter low-skill migration and slow income convergence. Using a new panel measure of housing supply regulations, we demonstrate the importance of this channel in the data. (C) 2017 Published by Elsevier Inc.
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