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Search for Multiple Equilibria in Urban Industrial Structure

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Author Info
David E. Weinstein
Donald R. Davis

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Abstract

Theories of multiple equilibria (ME) are now widespread across many fields of economics. Yet little empirical work has asked if such multiple equilibria are salient features of real economies. We examine this in the context of the Allied bombing of Japanese cities and industries in WWII in data for 114 Japanese cities in eight manufacturing industries. The data reject the existence of multiple equilibria. In the aftermath even of gargantuan shocks, a city recovers not only its population and its share of aggregate manufacturing, but even the specific industries it had before.

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Publisher Info
Paper provided by Econometric Society in its series Econometric Society 2004 North American Winter Meetings with number 639.

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Date of creation: 11 Aug 2004
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Handle: RePEc:ecm:nawm04:639

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Keywords: multiple equilibria

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Find related papers by JEL classification:
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition

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  2. Donald R. Davis & David E. Weinstein, 2002. "Bones, bombs and break points: The geography of economic activity," Discussion Papers 0102-02, Columbia University, Department of Economics. [Downloadable!]
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  3. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1989. "Industrialization and the Big Push," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1003-26, October. [Downloadable!] (restricted)
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  4. Paul A. David, . "Path Dependence, its critics, and the quest for 'historical economics'," Working Papers 00011, Stanford University, Department of Economics. [Downloadable!]
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  5. Andrea Moro, 2003. "The Effect Of Statistical Discrimination On Black-White Wage Inequality: Estimating A Model With Multiple Equilibria," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(2), pages 467-500, 05. [Downloadable!] (restricted)
  6. Jordan Rappaport & Jeffrey D. Sachs, 2001. "The U.S. as a coastal nation," Research Working Paper RWP 01-11, Federal Reserve Bank of Kansas City. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ulrike Stierle-von Schütz, 2005. "Fiscal Design and the Location of Economic Activity," ERSA conference papers ersa05p539, European Regional Science Association. [Downloadable!]
  2. Redding, Stephen J & Sturm, Daniel M & Wolf, Nikolaus, 2007. "History and Industry Location: Evidence from German Airports," CEPR Discussion Papers 6345, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  3. Harry Garretsen & Marc Schramm & Steven Brakman, 2003. "The Strategic Bombing of German Cities during World War II and its Impact for Germany," Working Papers 03-09, Utrecht School of Economics. [Downloadable!]
  4. Maarten Bosker & Steven Brakman & Harry Garretsen & Marc Schramm, 2006. "A Century of Shocks: The Evolution of the German City Size Distribution 1925 – 1999," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  5. Head, Charles Keith & Mayer, Thierry, 2003. "The Empirics of Agglomeration and Trade," CEPR Discussion Papers 3985, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  6. Joshua Aizenman & Ilan Noy, 2006. "Prizes for Basic Research -- Human Capital, Economic Might and the Shadow of History," NBER Working Papers 12226, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  7. Maarten Bosker & Steven Brakman & Harry Garretsen & Marc Schramm, 2005. "Looking for Multiple Equilibria when Geography Matters: German City Growth and the WWII Shock," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
    Other versions:
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