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Quantitative urban economics

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  • Redding, Stephen J.

Abstract

This paper reviews recent quantitative urban models. These models are sufficiently rich to capture observed features of the data, such as many asymmetric locations and a rich geography of the transport network. Yet these models remain sufficiently tractable as to permit an analytical characterization of their theoretical properties. With only a small number of structural parameters (elasticities) to be estimated, they lend themselves to transparent identification. As they rationalize the observed spatial distribution of economic activity within cities, they can be used to undertake counterfactuals for the impact of empirically-realistic public-policy interventions on this observed distribution. Empirical applications include estimating the strength of agglomeration economies and evaluating the impact of transport infrastructure improvements (e.g., railroads, roads, Rapid Bus Transit Systems), zoning and land use regulations, place-based policies, and new technologies such as remote working.

Suggested Citation

  • Redding, Stephen J., 2024. "Quantitative urban economics," LSE Research Online Documents on Economics 126838, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:126838
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    File URL: http://eprints.lse.ac.uk/126838/
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    Keywords

    cities; commuting; transportation; urban economics;
    All these keywords.

    JEL classification:

    • N0 - Economic History - - General
    • J1 - Labor and Demographic Economics - - Demographic Economics

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