Urban Economics and Urban Policy

Cheshire, Paul; Nathan, Max; Overman, Henry G.

doi:10.4337/9781781952528

Cited by 108 publications

(53 citation statements)

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“…As a consequence, training people and investing in human capital are often better strategies than building new transport infrastructure, for this heightens the probability of individuals finding a job, maybe in places other than their region of origin. As observed by Cheshire et al (2014), regional disparities are driven more by differences between individuals than by differences between places, although worker and place characteristics interact in subtle ways that require more investigation. After all, Toulouse initially did not seem a great place for the creation of a top school in economics.…”

Section: 7mentioning

confidence: 90%

Regional Disparities and Efficient Transport Policies

Proost

Thisse²

2017

Economics Without Borders

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This chapter addresses the economics of regional disparities and transport policies in the European Union, offering an explanation for the uneven development of regions. We show that recent developments in spatial economics highlight the fact that trade is costly and location still matters. Since the drop in transport costs and the emergence of a knowledge-based economy, the proximity to natural resources has been replaced by new drivers of regional growth that rely on human capital and cognitive skills. Regions with a high market potentialthose where demand is high and transport costs low -are likely to attract more firms and pay higher wages, which leads to sizable and lasting regional disparities. As a consequence, investments in interregional transport policies may not deliver their expected effects. In addition, new information and communication devices foster the fragmentation of the supply chain and the decentralization of activities.

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Section: 7mentioning

confidence: 90%

Regional Disparities and Efficient Transport Policies

Proost

Thisse²

2017

Economics Without Borders

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“…Between 1955 and, real house prices increased by a factor of 4.5 (mainly since 1971). This growth was intimately related to the changes in the real price of housing land, which in the same period increased by a factor of 12.3 (Cheshire et al 2014).…”

Section: The Problem: Housing Supply and Planning Constraintsmentioning

confidence: 97%

“…With relatively abundant land, relatively flexible land regulation and little binding topographical constraints, one would expect the supply of urban land to be more or less perfectly elastic and house prices to be mainly driven by construction costs, so that they would be stable or even slightly decreasing in the long run owing to technical progress in the construction industry (Glaeser et al 2008, Cheshire et al 2014. This is consistent with evidence from long-run trends in house prices in countries where the supply of land is relatively flexible, for example, Germany, Switzerland and parts of the USA ( Figure A1).…”

Section: The Problem: Housing Supply and Planning Constraintsmentioning

confidence: 99%

The political economy of housing in England

Coelho

Dellepiane-Avellaneda

Ratnoo

2016

New Political Economy

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Problems of housing affordability have been afflicting parts of the UK, especially the South East of England, for a number of years. The problem is closely related to shortages in housing supply, which are, in turn, largely associated with constraints imposed by the English land planning system. A leading theory for explaining these constraints posits that they reflect political economy forces that convey the interests of current homeowners to planning decisions in disproportionate and excessively influential ways. We test this theory by examining survey data on public attitudes to house building in local communities; and by investigating whether these attitudes are related to local planning decisions. We find that there is a tendency for owner-occupiers to express greater opposition to local house building and that, in the decade to 2011, the housing stock grew significantly less in local authorities with higher proportions of owner-occupiers among local households. The results suggest the risk that planning decisions might have been distorted in favour of current homeowners is real and economically significant. We discuss a range of historical, socioeconomic and policy trends that help explain why successive governments of various stripes have been reluctant to address head-on problems in housing supply and put a curb on house prices.

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“…However, the benefits associated with providing such spaces must be measured against the costs they impose on the population. For example, housing land in southeast England was worth 430 times its value as farmland (Cheshire et al, 2014). Under such circumstances, the land rent level also reflects the 'artificial scarcity' of land stemming from restrictive land use regulation.…”

Section: Land Capitalization and Housingmentioning

confidence: 99%

Skilled Cities and Efficient Urban Transport

Proost¹,

Thisse²

2017

Economics Without Borders

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This chapter surveys the fundamental forces that drive the formation and size of cities. We discuss the different types of agglomeration economies generated by a dense web of activities, with special emphasis on the benefits associated with the clustering of highly skilled workers. The distribution of activities within cities results from the trade-off between commuting and housing costs. We show that in this trade-off commuting costs are the cause and land rent is the consequence. The land rent capitalizes the advantages associated with proximity to particular urban locations such as employment centres. We identify the main sources of inefficiency in various urban policies implemented in Europe. Special attention is paid to the regulation of the land market and the pricing of urban transport. 9.

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Urban Economics and Urban Policy

Cited by 108 publications

References 0 publications

Regional Disparities and Efficient Transport Policies

Regional Disparities and Efficient Transport Policies

The political economy of housing in England

Skilled Cities and Efficient Urban Transport

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