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Housing Constraints and Spatial Misallocation
Open accessAbstract
We quantify the amount of spatial misallocation of labor across US cities and its aggregate costs. Misallocation arises because high productivity cities like New York and the San Francisco Bay Area have adopted stringent restrictions to new housing supply, effectively limiting the number of workers who have access to such high productivity. Using a spatial equilibrium model and data from 220 metropolitan areas we find that these constraints lowered aggregate US growth by 36 percent from 1964 to 2009. (JEL E23, J24, J31, R23, R31)
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Cited by
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“Changing Business Dynamism and Productivity: Shocks vs. Responsiveness”
Decker, R., Haltiwanger, J., Jarmin, R., & Miranda, J. (2018) · doi:10.3386/w24236 · Cited by 83
The Economics of Internal Migration: Advances and Policy Questions
Jia, N., Molloy, R., Smith, C., & Wozniak, A. (2023) · Journal of Economic Literature · doi:10.1257/jel.20211623 · Cited by 77
The Economic Implications of Housing Supply
Glaeser, E., & Gyourko, J. (2017) · doi:10.3386/w23833 · Cited by 13
Laidley, T., Vinneau, J., & Boardman, J. (2019) · Sociological Science · doi:10.15195/v6.a22 · Cited by 11
de España, B. (2024) · Informe Anual · doi:10.53479/36512 · Cited by 5
Metadata
- Authors
- Hsieh, C.-T., & Moretti, E.
- Venue
- American Economic Journal: Macroeconomics
- Publisher
- American Economic Association
- Published
- 2019-04-01
- Volume
- 11
- Issue
- 2
- Pages
- 1-39
- ISSN
- 1945-7707 (ISSN-L)
- 1945-7715
- OpenAlex
- W2614214791
- Cited by
- 638
- References
- 0
- FWCI
- 94.45
- Type
- journal article
- Language
- en
- Open access
- bronze
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