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- W3164660003 abstract "The monocentric city model is generalized to a fully structural form with leisure in utility, congested commuting, and the equalizing of utility and perimeter land price across metros. Exogenous and agglomerative dierences in total factor productivity (TFP) drive dierences in metro population, radius, land use, commute time, and home prices. Quantitative results approximate observed correspondences among these outcomes across U.S. metros. Trac congestion proves the critical force constraining population. Self-driving cars signicantly increase the sensitivity of metro population to productivity. Population becomes less responsive to increases in productivity as metros become larger. Correspondingly, the productivity cost of metro population|the TFP required to support a given population|increases convexly with size. Benchmark estimates suggest that agglomerative productivity suces to support increases in population from low levels, allowing chance to play a signicant role in determining which locations with sucient exogenous TFP develop into small metros. But agglomerative productivity falls considerably short of supporting increases in population from high levels, suggesting that large metros arise from strong fundamentals such as high exogenous TFP. JEL classications: R12, R41, J22" @default.
- W3164660003 created "2021-06-07" @default.
- W3164660003 creator A5021583510 @default.
- W3164660003 date "2016-01-01" @default.
- W3164660003 modified "2023-10-01" @default.
- W3164660003 title "Productivity, Congested Commuting, and Metro Size" @default.
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- W3164660003 doi "https://doi.org/10.18651/rwp2016-03" @default.
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