This paper examines equilibrium properties of local jurisdictions implied by the Tiebout-style model. A set of equilibrium conditions are derived from a general equilibrium model of local jurisdictions. The conditions are parameterized and empirically estimated in a two-stage procedure. The method is applied to communities in a Portland metropolitan area with an extension of public-good provision to include environmental amenities. The results suggest that the model can replicate many of the empirical regularities observed in the data. For example, the predicted income distributions across communities closely matched the observed distribution. The estimated income elasticity of housing demand is consistent with previous findings. One important finding of this paper is that the parameter estimates would be biased if environmental amenities are not considered.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2002 Annual meeting, July 28-31, Long Beach, CA with number
19863.
Length: Date of creation: 2002 Date of revision: Handle: RePEc:ags:aaea02:19863
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