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The cost of agglomeration: Land prices in cities

 

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Type:   Article
 
Titre:   The cost of agglomeration: Land prices in cities
 
Auteur(s):   Combes, Pierre-Philippe - Département d'économie (Auteur)
Duranton, Gilles - University of Pennsylvania (Penn) (Auteur)
Gobillon, Laurent - Institut National d'Etudes Démographiques (Auteur)
 
In:   Review of Economic Studies
 
Date de publication:   2018-10
 
Éditeur:   ÉTATS-UNIS  :  Wiley-Blackwell
 
Volume:   forthcoming
 
ISSN:   00346527
 
DOI:   10.1093/restud/rdy063
 
Mots-clés:   [en] Urban costs, House prices, Land prices, Land use, Agglomeration
 
JEL:   R31,  R21,  R14
 
Résumé:   [en] We develop a new methodology to estimate the elasticity of urban costs with respect to city population using French house and land price data. After handling a number of estimation concerns, we find that the elasticity of urban costs increases with city population with an estimate of about 0.03 for an urban area with 100,000 inhabitants to 0.08 for an urban area of the size of Paris. Our approach also yields a number of intermediate outputs of independent interest such as the share of housing in expenditure, the elasticity of unit house and land prices with respect to city population, and within-city distance gradients for house and land prices.
 
 

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