Does Culture Affect Local Productivity and Urban Amenities?
AbstractDoes a better cultural milieu make a city more livable for residents and improve its business environment for firms? To address this question, I compute a measure of cultural specialization based on detailed occupational data for 362 U.S. metropolitan areas. I then estimate hedonic wage and rent equations and ask if differences in the cultural environment across cities capitalize into housing price and wage differentials. Simple correlations replicate standard results from the literature: cities that are more specialized in cultural and artistic occupations enjoy higher factor prices. Using time-series data, controlling for observable and unobservable city characteristics and implementing alternative specifications strongly alter this result. Even though the arts and culture might be appealing for some people and firms, such determinants are not strong enough to affect factor prices at the metropolitan level.
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Bibliographic InfoPaper provided by Département des Sciences Économiques, Université de Genève in its series Research Papers by the Department of Economics, University of Geneva with number 13031.
Length: 39 pages
Date of creation: Mar 2013
Date of revision:
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Urban economics; location choice; local amenities; culture.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-04-13 (All new papers)
- NEP-CUL-2013-04-13 (Cultural Economics)
- NEP-GEO-2013-04-13 (Economic Geography)
- NEP-TUR-2013-04-13 (Tourism Economics)
- NEP-URE-2013-04-13 (Urban & Real Estate Economics)
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