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Quality of Life in a Dynamic Spatial Model

Gabriel M. AhlfeldtFabian BaldDuncan RothTobias Seidel

出版	Centre for Economic Performance, London School of Economics and Political Science, 2020
URL	http://books.google.com.hk/books?id=zkAxzgEACAAJ&hl=&source=gbs_api

註釋

We develop a dynamic spatial model in which heterogeneous workers are imperfectly mobile and forward-looking and yet all structural fundamentals can be inverted without assuming that the economy is in a stationary spatial equilibrium. Exploiting this novel feature of the model, we show that the canonical spatial equilibrium framework understates spatial quality-of-life differentials, the urban quality-of-life premium and the value of local non-marketed goods. Unlike the canonical spatial equilibrium framework, the model quantitatively accounts for local welfare effects that motivate many place-based policies seeking to improve quality of life.