城市经济学奥沙利文Chap008.pptVIP

Rent Premium in Mixed Neighborhoods Premium = $24 Each household in A (high low income) pays $24 extra Households in B have inferior income mix but pay $24 less in rent Axiom 1: Prices adjust for locational equilibrium 8-* 8-* Role of Lot Size Land as “normal” good: High-income households choose larger lots Larger lot means smaller premium per unit of land Pair of low-income households outbids single high-income household Result: Integration rather than segregation 8-* Minimum Lot Size Zoning and Segregation MLS increases premium per unit land for low-income household Low-income households more likely to be outbid for lots in A MLS promotes segregation 8-* Schools and Neighborhood Choice: Introduction How does achievement vary across neighborhoods? How do local schools affect location choices? 8-* 8-* Education Production Function Achievement = f (H, P, T, S) Home environment (H) most important input Favorable peers (P) are smart, motivated, not disruptive Teachers (T) vary in productivity Smaller class size (S) promotes learning Largest gains for low-income students Higher graduation rates and college attendance 8-* Education and Income Sorting Fiscal sorting: Demand for school spending increases with income Peer sorting: WTP for better school peers increases with income 8-* Crime and Neighborhood Choice: Introduction How does crime vary across neighborhoods? How does variation in crime affect location choices and housing prices? 8-* 8-* 8-* Implications of Spatial Variation in Crime Elasticity of house value with respect to crime rate = -0.067 WTP for low-crime neighborhood increases with income Result: Income segregation 8-* Measuring Racial Segregation Blacks: 2/3 in central cities; 1/3 in suburbs; Reverse for whites US Index of dissimilarity = 0.64: 64% of must relocate for integration 1980 - 2000, index decreased in 203 of 220 metropolitan areas; average reduction was 12% Small reductions in most segregated cities (Detroit, Milwaukee, New York, Newark, C