Dynamic Urban Economics

16.06.2025 14:15 – 15:30

INSTITUTE OF ECONOMICS AND ECONOMETRICS SEMINAR

Jointly with: Brian Greaney and Stijn Van Niewerburgh

Abstract:

We develop a dynamic urban model combining features of quantitative spatial and macro-housing models. It includes multiple locations, forward-looking households, commuting, costly migration, uninsurable income risk, housing tenure choice, and housing frictions. The model operates in continuous time, with shocks and choices occurring at discrete intervals. This “mixed time” approach enables efficient computation of steady-state equilibria and transition dynamics, even with thousands of location pairs. Using a model of the San Francisco Bay Area, we show how forward-looking behavior, spatial frictions, and transition dynamics reshape estimated effects of spatially heterogeneous shocks and policies, traditionally studied with static models.

Lieu

Bâtiment: Uni Mail

Boulevard du Pont-d'Arve 40
1205 Geneva
Room M 3250, 3rd floor

entrée libre