{"title":"Spatial inequality and housing in China","authors":"Thomas Fischer","doi":"10.1016/j.jue.2023.103532","DOIUrl":null,"url":null,"abstract":"<div><p>This paper investigates the evolution of inequality in China (1978–2015) through the lens of a dynamic spatial general equilibrium model with migration and capital formation. Due to an urban-rural income gap there is domestic migration from the rural to the urban areas which tends to reduce inequality. The resulting increase in urban house prices can, however, constitute an endogenous barrier to further urbanization. Increasing housing prices increase within-urban inequality between renters and landlords and also lock in urban-rural income differences. The calibrated model explains current, and projects future, development in China.</p></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":null,"pages":null},"PeriodicalIF":5.7000,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Urban Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0094119023000013","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
This paper investigates the evolution of inequality in China (1978–2015) through the lens of a dynamic spatial general equilibrium model with migration and capital formation. Due to an urban-rural income gap there is domestic migration from the rural to the urban areas which tends to reduce inequality. The resulting increase in urban house prices can, however, constitute an endogenous barrier to further urbanization. Increasing housing prices increase within-urban inequality between renters and landlords and also lock in urban-rural income differences. The calibrated model explains current, and projects future, development in China.
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The Journal of Urban Economics provides a focal point for the publication of research papers in the rapidly expanding field of urban economics. It publishes papers of great scholarly merit on a wide range of topics and employing a wide range of approaches to urban economics. The Journal welcomes papers that are theoretical or empirical, positive or normative. Although the Journal is not intended to be multidisciplinary, papers by noneconomists are welcome if they are of interest to economists. Brief Notes are also published if they lie within the purview of the Journal and if they contain new information, comment on published work, or new theoretical suggestions.
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