000			01379nam a22001577a 4500
999			_c514652 _d514652
008			201125b ||||| |||| 00| 0 eng d
100			_aRaymond, Owens, Hansberg, E.R. and Sarte, P.D. _921455
245			_aRethinking Detroit
260			_aAmerican Economic Journal : Economic Policy
300			_a12(2), May, 2020: p.258-305
520			_aThis 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
650			_aReal Estate, and Transportation Economics, Regional Migration, Regional Labor Markets; Population; Neighborhood Characteristics _921456
773			_aAmerican Economic Journal : Economic Policy
906			_aECONOMIC ACTIVITY - REGIONAL
942			_cAR