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Monocentric city redux

Author

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  • Rappaport, Jordan

    () (Federal Reserve Bank of Kansas City)

Abstract

This paper argues that centralized employment remains an empirically relevant stylization of midsize U.S. metros. It extends the monocentric model to explicitly include leisure as a source of utility but constrains workers to supply fixed labor hours. Doing so sharpens the marginal disutility from longer commutes. The numerical implementation calibrates traffic congestion to tightly match observed commute times in Portland, Oregon. The implied geographic distribution of CBD workers' residence tightly matches that of Portland. The implied population density, land price, and house price gradients approximately match empirical estimates. Variations to the baseline calibration build intuition on underlying mechanics.

Suggested Citation

  • Rappaport, Jordan, 2014. "Monocentric city redux," Research Working Paper RWP 14-9, Federal Reserve Bank of Kansas City.
  • Handle: RePEc:fip:fedkrw:rwp14-09
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Urban Land Use; Commuting; Leisure; Value of Time;

    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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