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Residential land use with demographic dynamics of young and old generations

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  • Kono, Tatsuhito
  • Kotoku, Toshiaki
  • Otazawa, Toshimori
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    Abstract

    Populations of many countries are expected to decrease rapidly, with a simultaneous increase in the proportion of elderly people. These population dynamics will affect residential location patterns of young and old people because of their different preferences for local (zonal) amenities. Using an overlapping generations model in a closed city with two zones, this paper demonstrates how younger and older generations reside in the two zones and classifies the residential patterns into three patterns. Results of analyses underscore how the three residential patterns arise according to the respective population dynamics and zone amenities. Furthermore, by exploring the equilibrium utility paths of young and old people for each residential pattern, we show that the change in the population dynamics can produce an unfair change over generations with different birthdates.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Housing Economics.

    Volume (Year): 21 (2012)
    Issue (Month): 4 ()
    Pages: 283-295

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    Handle: RePEc:eee:jhouse:v:21:y:2012:i:4:p:283-295

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    Web page: http://www.elsevier.com/locate/inca/622881

    Related research

    Keywords: Aging population; Demographic dynamics; Urban land use;

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    References

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    1. Ikeda, Kiyohiro & Akamatsu, Takashi & Kono, Tatsuhito, 2012. "Spatial period-doubling agglomeration of a core–periphery model with a system of cities," Journal of Economic Dynamics and Control, Elsevier, vol. 36(5), pages 754-778.
    2. Barro, Robert J., 1974. "Are Government Bonds Net Wealth?," Scholarly Articles 3451399, Harvard University Department of Economics.
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    8. Fujita, Masahisa, 1982. "Spatial patterns of residential development," Journal of Urban Economics, Elsevier, vol. 12(1), pages 22-52, July.
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    12. Braid, Ralph M., 2001. "Spatial Growth and Redevelopment with Perfect Foresight and Durable Housing," Journal of Urban Economics, Elsevier, vol. 49(3), pages 425-452, May.
    13. Brueckner, Jan K., 1980. "A vintage model of urban growth," Journal of Urban Economics, Elsevier, vol. 8(3), pages 389-402, November.
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    15. Brueckner, Jan K., 1981. "A dynamic model of housing production," Journal of Urban Economics, Elsevier, vol. 10(1), pages 1-14, July.
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