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Estimating Equilibrium Models of Local Jurisdictions

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  • Epple, Dennis
  • Sieg, Holger
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    Abstract

    Research over the past several years has led to development of models characterizing equilibrium in a system of local jurisdictions. An important insight from these models is that plausible single-crossing assumptions about preferences generate strong predictions about the equilibrium distribution of households across communities. To date, these predictions have not been subjected to formal empirical tests. The purpose of this paper is to provide an integrated approach for testing predictions from this class of models. This paper focuses primarily on the locational equilibrium implied by these models. In particular, we focus on predictions about the distribution of households by income across communities. The central idea of the estimation strategy is to match the observed quantiles of the income distributions with those predicted by the model. By drawing inferences from a structural general equilibrium model, the approach of this paper offers a unified treatment of theory and empirical testing.

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    Bibliographic Info

    Paper provided by Duke University, Department of Economics in its series Working Papers with number 97-05.

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    Date of creation: 1997
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    Publication status: Published in JOURNAL OF POLITICAL ECONOMY, Vol. 107, 1999, pages 645-681
    Handle: RePEc:duk:dukeec:97-05

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    Postal: Department of Economics Duke University 213 Social Sciences Building Box 90097 Durham, NC 27708-0097
    Phone: (919) 660-1800
    Fax: (919) 684-8974
    Web page: http://econ.duke.edu/

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    Cited by:
    1. IgnatiusJ. Horstmann & KimberleyA. Scharf, 2008. "A Theory of Distributional Conflict, Voluntarism and Segregation," Economic Journal, Royal Economic Society, vol. 118(527), pages 427-453, 03.
    2. Wong, Maisy, 2013. "Estimating the Distortionary Effects of Ethnic Quotas in Singapore Using Housing Transactions," MPRA Paper 51217, University Library of Munich, Germany.
    3. Wong, Maisy, 2010. "The Relationship between Marginal Willingness-to-Pay in the Hedonic and Discrete Choice Models," MPRA Paper 51218, University Library of Munich, Germany.
    4. Hindriks, Jean, 1999. "The consequences of labour mobility for redistribution: tax vs. transfer competition," Journal of Public Economics, Elsevier, vol. 74(2), pages 215-234, November.

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