Rethinking Detroit
By: Raymond, Owens, Hansberg, E.R. and Sarte, P.D
.
Material type: 
BookPublisher: American Economic Journal : Economic Policy Description: 12(2), May, 2020: p.258-305.Subject(s): Real Estate, and Transportation Economics, Regional Migration, Regional Labor Markets; Population; Neighborhood Characteristics
In:
American Economic Journal : Economic PolicySummary: This paper studies the urban structure of Detroit—one that is clearly not optimal for its size—which features a business district immediately surrounded by largely vacant neighborhoods. A model is presented where residential externalities lead to multiple equilibria at the neighborhood level. Specifically, neighborhood development requires the coordination of developers and residents, without which it may remain vacant even with sound fundamentals. Given this mechanism, existing strategic visions to revitalize Detroit are evaluated within a quantitative spatial model that can rationalize Detroit's current allocations. Alternative plans that rely on "development guarantees" are also considered and shown to yield better outcomes. – Reproduced
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
Articles
|
Indian Institute of Public Administration | 12(2), May, 2020: p.258-305 | Available | AR124135 |
This paper studies the urban structure of Detroit—one that is clearly not optimal for its size—which features a business district immediately surrounded by largely vacant neighborhoods. A model is presented where residential externalities lead to multiple equilibria at the neighborhood level. Specifically, neighborhood development requires the coordination of developers and residents, without which it may remain vacant even with sound fundamentals. Given this mechanism, existing strategic visions to revitalize Detroit are evaluated within a quantitative spatial model that can rationalize Detroit's current allocations. Alternative plans that rely on "development guarantees" are also considered and shown to yield better outcomes. – Reproduced
There are no comments for this item.