| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP4626
|
| DP4626 Excessive Prices: Using Economics to Define Administrable Legal Rules |
| Jorge Padilla; David S Evans
|
| 发表日期 | 2004-09-23
|
| 出版年 | 2004
|
| 语种 | 英语
|
| 摘要 | This Paper examines city formation in a country whose urban population is growing steadily over time, with new cities required to accommodate this growth. In contrast to most of the literature there is immobility of housing and urban infrastructure, and investment in these assets is taken on the basis of forward-looking behaviour. In the presence of these fixed assets cities form sequentially, without the population swings in existing cities that arise in current models. Equilibrium city size, absent government, may be larger or smaller than is efficient, depending on how urban externalities vary with population. Efficient formation of cities involves local government borrowing to finance development. The institutions governing land markets, leases, local taxation, and local borrowing and debt affect the efficiency of outcomes. The Paper explores the effects of different fiscal constraints, and shows that borrowing constraints lead cities to be larger than is efficient. |
| 主题 | International Trade and Regional Economics
|
| 关键词 | Urbanization
City size
Urban developers
City governance
|
| URL | https://cepr.org/publications/dp4626
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533546
|
推荐引用方式
GB/T 7714 |
Jorge Padilla,David S Evans. DP4626 Excessive Prices: Using Economics to Define Administrable Legal Rules. 2004.
|
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