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Monocentric city redux

Listed author(s):
  • Rappaport, Jordan

    ()

    (Federal Reserve Bank of Kansas City)

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.

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File URL: http://www.kansascityfed.org/publicat/reswkpap/pdf/rwp14-09.pdf
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Paper provided by Federal Reserve Bank of Kansas City in its series Research Working Paper with number RWP 14-9.

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Length: 36 pages
Date of creation: 01 Nov 2014
Handle: RePEc:fip:fedkrw:rwp14-09
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  1. Rappaport, Jordan, 2008. "A productivity model of city crowdedness," Journal of Urban Economics, Elsevier, vol. 63(2), pages 715-722, March.
  2. Gabriel M. Ahlfeldt & Nicolai Wendland, 2013. "How polycentric is a monocentric city? Centers, spillovers and hysteresis," Journal of Economic Geography, Oxford University Press, vol. 13(1), pages 53-83, January.
  3. Sullivan, Arthur M., 1986. "A general equilibrium model with agglomerative economies and decentralized employment," Journal of Urban Economics, Elsevier, vol. 20(1), pages 55-74, July.
  4. Glaeser, Edward L. & Kahn, Matthew E., 2004. "Sprawl and urban growth," Handbook of Regional and Urban Economics,in: J. V. Henderson & J. F. Thisse (ed.), Handbook of Regional and Urban Economics, edition 1, volume 4, chapter 56, pages 2481-2527 Elsevier.
  5. repec:wly:iecrev:v:57:y:2016:i::p:1237-1260 is not listed on IDEAS
  6. Albert Saiz, 2010. "The Geographic Determinants of Housing Supply," The Quarterly Journal of Economics, Oxford University Press, vol. 125(3), pages 1253-1296.
  7. Brueckner, Jan K., 1979. "A model of non-central production in a monocentric city," Journal of Urban Economics, Elsevier, vol. 6(4), pages 444-463, October.
  8. Gilles Duranton & Matthew A. Turner, 2011. "The Fundamental Law of Road Congestion: Evidence from US Cities," American Economic Review, American Economic Association, vol. 101(6), pages 2616-2652, October.
  9. Wenli Li & Haiyong Liu & Fang Yang & Rui Yao, 2016. "Housing Over Time And Over The Life Cycle: A Structural Estimation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57, pages 1237-1260, November.
  10. Larson, William & Yezer, Anthony, 2015. "The energy implications of city size and density," Journal of Urban Economics, Elsevier, vol. 90(C), pages 35-49.
  11. Anas, Alex & Kim, Ikki, 1996. "General Equilibrium Models of Polycentric Urban Land Use with Endogenous Congestion and Job Agglomeration," Journal of Urban Economics, Elsevier, vol. 40(2), pages 232-256, September.
  12. Alan B. Krueger, 2009. "Measuring the Subjective Well-Being of Nations: National Accounts of Time Use and Well-Being," NBER Books, National Bureau of Economic Research, Inc, number krue08-1, December.
  13. de Bartolome, Charles A. M. & Ross, Stephen L., 2003. "Equilibria with local governments and commuting: income sorting vs income mixing," Journal of Urban Economics, Elsevier, vol. 54(1), pages 1-20, July.
  14. McMillen, Daniel P., 2003. "The return of centralization to Chicago: using repeat sales to identify changes in house price distance gradients," Regional Science and Urban Economics, Elsevier, vol. 33(3), pages 287-304, May.
  15. Brinkman, Jeffrey C., 2016. "Congestion, agglomeration, and the structure of cities," Journal of Urban Economics, Elsevier, vol. 94(C), pages 13-31.
  16. McMillen, Daniel P., 1996. "One Hundred Fifty Years of Land Values in Chicago: A Nonparametric Approach," Journal of Urban Economics, Elsevier, vol. 40(1), pages 100-124, July.
  17. Thorsnes, Paul, 1997. "Consistent Estimates of the Elasticity of Substitution between Land and Non-Land Inputs in the Production of Housing," Journal of Urban Economics, Elsevier, vol. 42(1), pages 98-108, July.
  18. Macauley, Molly K., 1985. "Estimation and recent behavior of urban population and employment density gradients," Journal of Urban Economics, Elsevier, vol. 18(2), pages 251-260, September.
  19. David Albouy & Bert Lue, 2014. "Driving to Opportunity: Local Rents, Wages, Commuting Costs and Sub-Metropolitan Quality of Life," NBER Working Papers 19922, National Bureau of Economic Research, Inc.
  20. Sullivan, Arthur M., 1983. "A general equilibrium model with external scale economies in production," Journal of Urban Economics, Elsevier, vol. 13(2), pages 235-255, March.
  21. Satyajit Chatterjee & Burcu Eyigungor, 2013. "Do supply restrictions raise the value of urban land? The (neglected) role of production externalities," Working Papers 13-37, Federal Reserve Bank of Philadelphia.
  22. Jeffrey Brinkman & Daniele Coen‐Pirani & Holger Sieg, 2015. "Firm Dynamics In An Urban Economy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56, pages 1135-1164, November.
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