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An Equilibrium Model of Sorting in an Urban Housing Market: The Causes and Consequences of Residential Segregation AgEcon
Bayer, Patrick; McMillan, Robert; Rueben, Kim.
This paper presents a new equilibrium framework for analyzing economic and policy questions related to the sorting of households within a large metropolitan area. We estimate the model using restricted-access Census data that precisely characterize residential and employment locations for households the San Francisco Bay Area, yielding accurate measures of preferences for a wide variety of housing and neighborhood attributes across different types of household. We use these estimates to explore the causes and consequences of racial segregation in general equilibrium. Our results indicate that, given the preference structure of households in the Bay Area, the elimination of racial differences in income and wealth would significantly increase the residential...
Tipo: Working or Discussion Paper Palavras-chave: Segregation; Sorting; Housing markets; Locational equilibrium; Residential choice; Discrete choice; Labor and Human Capital; Public Economics; H0; J7; R0; R2.
Ano: 2003 URL: http://purl.umn.edu/28503
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