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Spatial allocation of capital : the role of risk preferences

Broll, Udo; Roldán-Ponce, Antoni; Wahl, Jack E. - 2010

This paper considers a model of spatial allocation of investment capital under uncertainty. We demonstrate that the spatial concentration of economic activity depends upon properties of risk preferences deeper than risk aversion. The degree of so-called relative prudence unambiguously decides...

Persistent link: https://www.econbiz.de/10003971025

Geographic Variation in M&A Activity, Spillovers, and Valuation Shocks

Rajamani, Anjana - 2019

We document large and persistent differences in the acquisitiveness of firms in the U.S. based on the location of their headquarters. We hypothesize and find evidence that local peer effects in M&A activity contribute to such persistence. Specifically, the acquisitiveness of non-dominant...

Persistent link: https://www.econbiz.de/10012859180

Market Access, Spatial Inequality, and General Purpose Technologies

Nagamachi, Kohei - 2019

We study the interplay between the spatial distribution of economic activity and technological progress in the context of general purpose technologies with emphasis on market access. A tractable spatial equilibrium model is developed, in which ex-ante identical cities sort themselves into...

Persistent link: https://www.econbiz.de/10014108825

Spatial Inequality and Urban Costs : Revisiting the Home Market Effect

Zhou, Yiming - 2018

This paper investigates how the interactions between product differentiation, transport costs and urban costs determine spatial inequality in a general-equilibrium model. We shed light on the interrelation between different definitions of home market effect (HME) in literature. While the wages...

Persistent link: https://www.econbiz.de/10012915859

Chapter 4. Regional Growth and Regional Decline

Breinlich, Holger; Ottaviano, Gianmarco I.P.; Temple, … - 2014

Since the early 1990s, there has been a renaissance in the study of regional growth, spurred by new models, methods, and data. We survey a range of modeling traditions, and some formal approaches to the hard problem of regional economics; namely, the joint consideration of agglomeration and...

Persistent link: https://www.econbiz.de/10014025593

Development of Russian Regions : Autumn Trends in 2018

Zubarevich, Natalya - 2019

Multidirectional trends were relevant for development of regions during three quarters of 2018. On one hand, industrial growth continued in ¾ of regions, consumption increased practically everywhere, unemployment did not experience any visible changes. On the other hand, new housing supply...

Persistent link: https://www.econbiz.de/10012896475

Mind the remoteness! : income disparities across Japanese prefectures

López Rodríguez, Jesús; Nakamura, Daisuke - In: Estudios de economía 38 (2011) 2, pp. 393-417

In this paper we analyze the role played by Market access to explain income disparities among Japanese Prefectures for different periods of time. The results of the estimations suggest that 1) Market access plays an important role in the explanation of income disparities in Japan, 2) the effect...

Persistent link: https://www.econbiz.de/10009668538

Income disparities in Poland through the lens of economic geography

López Rodríguez, Jesús - 2012

Second nature geography variables are very relevant in the explanation of income disparities across regions within countries and across countries. This paper uses the framework of the New Economic Geography to derive the structural equation which relates nominal wages with a distance weighted...

Persistent link: https://www.econbiz.de/10009558545

The pure effect of social preferences on regional location choices : the evolving dynamics of convergence to a steady state population distribution

Stark, Oded; Budziński, Wiktor; Kosiorowski, Grzegorz - 2019

, holding their incomes constant. Conditions are provided under which the associated dynamics reaches a spatial steady state …, the number of periods it takes to reach a steady state is specified, and light is shed on the robustness of the steady … state outcome. By way of simulation it is shown that for large populations, a steady state of the relocation dynamics is …

Persistent link: https://www.econbiz.de/10011994585

Urbanization, productivity differences and spatial frictions

Arcalean, Calin; Glomm, Gerhard; Schiopu, Ioana - 2019

We study decentralized and optimal urbanization in a simple multi-sector model of a rural-urban economy focusing on productivity differences and internal trade frictions. We show that even in the absence of the typical externalities studied in the literature, such as agglomeration, congestion or...

Persistent link: https://www.econbiz.de/10011997069