打印

作者

来源

来源 JOURNAL OF URBAN ECONOMICS,Vol.102,P.76-90

语言

英文

关键字

Convergence;Regulation;Land use;Migration;Housing prices;E24;J23;J24;R14;R23;R52

作者单位

University of Chicago Harris School, 1155 East 60th Street, Chicago, IL 60637, United States;Harvard Kennedy School, 79 John F. Kennedy Street Cambridge, MA 02138, United States;University of Chicago Harris School, 1155 East 60th Street, Chicago, IL 60637, United States;Harvard Kennedy School, 79 John F. Kennedy Street Cambridge, MA 02138, United States

摘要

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.