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Abstract

The long-term trends of urbanization suggest: not only have more cities formed, but the leading metropolises have grown larger, with a number of peripheral subcenters developing over time. Conventional models of urban growth are limited, in that commuting cost and congestion eventually result in decreasing returns in a monocentric city as population becomes very large. We construct a general-equilibrium model with dynamic interactions between spatial agglomeration and urban development, driven by location-dependent knowledge spillovers. Our contribution allows endogenous development of subcenters to capture benefits from knowledge spillovers and offset diminishing returns from urban congestion, thus permitting more sustained city growth.



Item Type: MPRA Paper -

Institution: Washington University in St. Louis-

Original Title: Urban growth and subcenter formation: A trolley ride from the Staples Center to Disneyland and the Rose Bowl-

Language: English-

Keywords: Core-Periphery Urban Structure; Agglomerative Production Activity; Endogenous Formation of Cities-

Subjects: R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic ActivityD - Microeconomics > D5 - General Equilibrium and Disequilibrium > D51 - Exchange and Production EconomiesC - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C78 - Bargaining Theory ; Matching Theory-





Autor: Berliant, Marcus

Fuente: https://mpra.ub.uni-muenchen.de/2770/







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