On quantitative spatial economic models
نویسندگان
چکیده
We show that spatial equilibrium conditions in workhorse models of quantitative economics (QSE) can be generated by the McFadden (1974) model together with condition individual choice probability a region equals population share region. Thus, recent QSE and one oldest location rationalize same change following shocks to economic fundamentals. However, their welfare implications—even conditional on equilibrium—may differ, depending specification preferences type we consider.
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ژورنال
عنوان ژورنال: Journal of Urban Economics
سال: 2021
ISSN: ['0094-1190', '1095-9068']
DOI: https://doi.org/10.1016/j.jue.2021.103348