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1 2019-03-26 243.34 KB A Companion to Urban Economics Arnott and McMillen Chapter 27.pdf
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C H A P T E R T W E N T Y - S E V E N Measuring and Analyzing Urban Employment Fluctuations 27.1 INTRODUCTION CITIES ARE NOT JUST LITTLE VERSIONS OF THE NATION National economies experience cyclical behavior; they rise and fall, have booms and recessions.
2 2019-03-26 191.38 KB A Companion to Urban Economics Arnott and McMillen Chapter 19.pdf
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C H A P T E R N I N E T E E N Financing Cities 19.1 INTRODUCTION In 1904, St Louis, Missouri hosted the World’s Fair. The seven-month fair included exhibits from 62 countries and had an attendance of over 2 million visitors. At the time of the Fair, St
3 2019-03-26 197.36 KB A Companion to Urban Economics Arnott and McMillen Chapter 13.pdf
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C H A P T E R T H I R T E E N Commercial Real Estate 13.1 INTRODUCTION Imagine a city with nothing but houses, public institutions, and parks. It might be serene, but what a dull place it would be – not really a city at all. Commercial real estate is
4 2019-03-26 197.45 KB A Companion to Urban Economics Arnott and McMillen Chapter 20.pdf
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C H A P T E R T W E N T Y Strategic Interaction among Governments Strategic interaction among governments has recently become a major focus of theoretical and empirical work in public economics. One branch of the literature analyzes strategic interaction
5 2019-03-26 160.02 KB A Companion to Urban Economics Arnott and McMillen Chapter 18.pdf
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C H A P T E R E I G H T E E N Urban Transport Policies: The Dutch Struggle with 18.1 INTRODUCTION Transport is characterized by various market failures that are of particular importance in urban settings. A basic market failure concerns environmental
6 2019-03-26 146.81 KB A Companion to Urban Economics Arnott and McMillen Chapter 17.pdf
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C H A P T E R S E V E N T E E N Urban Transportation and Land Use 17.1 INTRODUCTION This chapter is an introduction to the economics of the connection between urban transportation and land use. The nature of the transportation system strongly influences
7 2019-03-26 233.15 KB A Companion to Urban Economics Arnott and McMillen Chapter 16.pdf
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C H A P T E R S I X T E E N Urban Passenger Travel Demand 16.1 INTRODUCTION The idea of tolling roads to reduce traffic congestion was suggested back in 1920. For several decades, road pricing was largely dismissed as impractical and publicly unacceptable
8 2019-03-26 214.01 KB A Companion to Urban Economics Arnott and McMillen Chapter 15.pdf
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C H A P T E R F I F T E E N Urban Transport Economic Theory 15.1 INTRODUCTION Although the transportation sector constitutes a small share of total production (about 3 percent of GDP in the United States), transportation costs play a critical role in
9 2019-03-26 180.39 KB A Companion to Urban Economics Arnott and McMillen Chapter 14.pdf
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C H A P T E R FOURTEEN Housing Price Indexes 14.1 INTRODUCTION: WHY ARE ACCURATE HOUSING PRICE INDEXES IMPORTANT? The value of owner-occupied housing accounts for upwards of one-third of total household net wealth in the United States.
10 2019-03-26 153.28 KB A Companion to Urban Economics Arnott and McMillen Chapter 12.pdf
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C H A P T E R T W E L V E Discrimination in Mortgage Lending 12.1 INTRODUCTION Mortgage market discrimination has been categorized as blatant treatment, differential treatment, and adverse impact. Blatant treatment involves explicit refusal to lend or
11 2019-03-26 206.93 KB A Companion to Urban Economics Arnott and McMillen Chapter 11.pdf
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C H A P T E R E L E V E N Housing Demand: An International Perspective 11.1 INTRODUCTION Housing markets reflect distinctive national and regional policies and practices. It is important to increase understanding of housing markets and, in particular,
12 2019-03-26 210.06 KB A Companion to Urban Economics Arnott and McMillen Chapter 10.pdf
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C H A P T E R T E N Housing Policy: LowIncome Households in France 10.1 INTRODUCTION Housing consumption and investment remain subsidized even in the most liberal countries. In 2001, the United States spent 1.54 percent of GDP, and France 1.74 percent,
13 2019-03-26 163.95 KB A Companion to Urban Economics Arnott and McMillen Chapter 9.pdf
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C H A P T E R N I N E The Economic Theory of Housing Tenure Choice 9.1 INTRODUCTION Within the theory of housing markets, one may broadly distinguish three approaches, which roughly correspond to the historical development of the discipline.
14 2019-03-26 175.45 KB A Companion to Urban Economics Arnott and McMillen Chapter 8.pdf
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C H A P T E R E I G H T Testing for Monocentricity 8.1 INTRODUCTION The monocentric city model of Muth (1969) and Mills (1972) is still the dominant model of urban spatial structure. Its central predictions – that population density, land values, and
15 2019-03-26 245.79 KB A Companion to Urban Economics Arnott and McMillen Chapter 7.pdf
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C H A P T E R S E V E N Space in General Equilibrium 7.1 INTRODUCTION How do households distribute themselves in a spatial dimension? Do they distribute themselves efficiently? What determines land-use patterns?
16 2019-03-26 182.22 KB A Companion to Urban Economics Arnott and McMillen Chapter 6.pdf
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C H A P T E R S I X Monocentric Cities 6.1 INTRODUCTION Anyone who is even a casual student of cities has noted that, within a particular city, the economic landscape can vary dramatically, especially with proximity to the central business district.
17 2019-03-26 1.28 MB A Companion to Urban Economics Arnott and McMillen Chapter 5.pdf
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C H A P T E R F I V E The Spatial Pattern of Land Use in the United States 5.1 INTRODUCTION There is currently great interest in understanding and managing the impacts of land-use changes on individual and social well-being.
18 2019-03-26 331.57 KB A Companion to Urban Economics Arnott and McMillen Chapter 4.pdf
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C H A P T E R F O U R Cross-Country Patterns of Urban Development 4.1 INTRODUCTION Urban economists love to suggest the following thought experiment to students. Consider a world without cities. More specifically, suppose that the world’s population was
19 2019-03-26 154.24 KB A Companion to Urban Economics Arnott and McMillen Chapter 3.pdf
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C H A P T E R T H R E E The First Cities 3.1 INTRODUCTION This essay explores the origins of the world’s first cities, which evolved in different parts of Southwest Asia. The city of Jericho developed in the Jordan Valley in the eighth millennium BC, with
20 2019-03-26 183.67 KB A Companion to Urban Economics Arnott and McMillen Chapter 2.pdf
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C H A P T E R T W O Human Capital Externalities in Cities: Identification and Policy Issues 2.1 INTRODUCTION The case for corrective economic policies as stated in Econ101 is relatively straightforward. In some instances, there is a wedge between the private

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