Equilibrium Dynamics in a Model of Growth and Spatial Agglomeration

We present a multi-regional endogenous growth model in which forward-looking agents choose their regions to live in, in addition to consumption and capital accumulation paths. The spatial distribution of economic activity is determined by the interplay between production spillover effects and urban congestion effects. We characterize the global stability of the spatial equilibrium states in terms of economic primitives such as agents' time preference and intra- and inter-regional spillovers. We also study how macroeconomic variables at the stable equilibrium state behave according to the structure of the spillover network

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Year of publication:	2020
Authors:	Fujishima, Shota
Other Persons:	Oyama, Daisuke (contributor)
Publisher:	[2020]: [S.l.] : SSRN
Subject:	Agglomerationseffekt \| Agglomeration effect \| Wachstumstheorie \| Growth theory \| Dynamisches Gleichgewicht \| Dynamic equilibrium

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