Dynamic Spatial General Equilibrium
نویسندگان
چکیده
We incorporate forward?looking capital accumulation into a dynamic discrete choice model of migration. characterize the steady?state equilibrium; generalize existing exact?hat algebra techniques to investment; and linearize provide an analytical characterization economy's transition path using spectral analysis. show that labor dynamics interact shape speed adjustment toward steady state. implement our quantitative analysis data on stocks, populations, bilateral trade migration flows for U.S. states from 1965–2015. this interaction between plays central role in explaining observed decline rate income convergence across persistent heterogeneous impact local shocks.
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ژورنال
عنوان ژورنال: Econometrica
سال: 2023
ISSN: ['0012-9682', '1468-0262']
DOI: https://doi.org/10.3982/ecta20273