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Quality of life in a dynamic spatial model

Ahlfeldt, Gabriel Peter Gabriel Martins ORCID: 0000-0001-5664-3230, Bald, Fabian, Roth, Duncan and Seidel, Tobias (2020) Quality of life in a dynamic spatial model. CEP Discussion Papers (CEPDP1736). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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Abstract

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.

Item Type: Monograph (Discussion Paper)
Official URL: https://cep.lse.ac.uk/_new/publications/discussion...
Additional Information: © 2020 The Author(s)
Divisions: Geography & Environment
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
JEL classification: J - Labor and Demographic Economics > J2 - Time Allocation, Work Behavior, and Employment Determination and Creation; Human Capital; Retirement
J - Labor and Demographic Economics > J3 - Wages, Compensation, and Labor Costs
R - Urban, Rural, and Regional Economics > R2 - Household Analysis
R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location
R - Urban, Rural, and Regional Economics > R5 - Regional Government Analysis
Date Deposited: 19 Jan 2021 16:39
Last Modified: 11 Mar 2024 11:54
URI: http://eprints.lse.ac.uk/id/eprint/108498

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