Rural-urban migration and house prices in China
نویسندگان
چکیده
This paper uses a dynamic competitive spatial equilibrium framework to evaluate the contribution of rural-urban migration induced by structural transformation behavior Chinese housing markets. In model, technological progress drives workers facing heterogeneous mobility costs migrate from rural agricultural sector higher paying urban manufacturing sector. Upon arrival city, purchase using long-term mortgages. Quantitatively, model fits cross-sectional house price across representative sample cities between 2003 and 2015. The is then used how changes city policies land supply regulations affect speed urbanization appreciation. analysis indicates that making policy more egalitarian or uniform would promote but also contribute larger dispersion.
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ژورنال
عنوان ژورنال: Regional Science and Urban Economics
سال: 2021
ISSN: ['0166-0462', '1879-2308']
DOI: https://doi.org/10.1016/j.regsciurbeco.2020.103613