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A tractable circular city model with an application to the effects of development constraints on land rents

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  • Satyajit Chatterjee
  • Burcu Eyigungor

Abstract

Superseded by working paper 13-37.> A tractable production-externality-based circular city model in which both firms and workers choose location as well as intensity of land use is presented. The equilibrium structure of the city has either (i) no commuting ("mixed-use" form) or (ii) a central business district (CBD) of positive radius and a surrounding residential ring. Regardless of which form prevails, the intra-city variation in all endogenous variables displays the negative exponential form: x(r) = x(0)e¯Øxr (where r is the distance from the city center and Øx depends only on preference and technology parameters). An application is presented wherein it is shown that population growth may lead to a smaller increase in land rents in cities that cannot expand physically because these cities are less able to exploit the external effect of greater employment density.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Philadelphia in its series Working Papers with number 12-25.

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Date of creation: 2012
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Handle: RePEc:fip:fedpwp:12-25

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Keywords: Land use;

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  1. Abdel-Rahman, Hesham M. & Anas, Alex, 2004. "Theories of systems of cities," Handbook of Regional and Urban Economics, Elsevier, in: J. V. Henderson & J. F. Thisse (ed.), Handbook of Regional and Urban Economics, edition 1, volume 4, chapter 52, pages 2293-2339 Elsevier.
  2. Fujita,Masahisa, 1989. "Urban Economic Theory," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521346627.
  3. Edward L. Glaeser & Matthew E. Kahn, 2001. "Decentralized Employment and the Transformation of the American City," NBER Working Papers 8117, National Bureau of Economic Research, Inc.
  4. Atack, Jeremy & Margo, Robert A, 1998. ""Location, Location, Location!" The Price Gradient for Vacant Urban Land: New York, 1835 to 1900," The Journal of Real Estate Finance and Economics, Springer, Springer, vol. 16(2), pages 151-72, March.
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Cited by:
  1. Jeffrey C. Brinkman, 2013. "Congestion, agglomeration, and the structure of cities," Working Papers, Federal Reserve Bank of Philadelphia 13-25, Federal Reserve Bank of Philadelphia.

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