Housing Market and Agglomeration of Rent-Seeking Activities: Implications for Regional Development
2014/08/19
研討會日期 : 2014-08-19
時間 : 14:30
主講人 : Professor Chao-En Yu
主持人 : Professor Yu-Chin Hsu
地點 : Conference Room B110
演講者簡介 : Professor Yu received his Ph.D. in Economics from Washington University in St. Louis. He is currently an Assistant Professor of Economics at National Tsing Hua University. His research fields are Microeconomics, Public Economics, and Urban Economics.
演講摘要 : Rent-seeking is defined as exercising privileges or expending resources in order to obtain uncompensated gain by redistributing the wealth of others without reciprocating any benefits back to society through wealth creation. This paper is a pioneering attempt to analyze the agglomeration of rent-seeking activities in geography and the corresponding impact on regional economies. First of all, we construct a theoretical model based on the standard settings in the literature on economic geography with two types of mobile workers. Each agent maximizes his/her utility, whereas the distribution of agents' types corresponds to a map of productive and rent-seeking activities. Next, conditions for the agglomeration of rent-seeking activities are characterized, which constitute partially segregated equilibria. Finally, based on a panel data analysis for the conterminous 48 states in the U.S., we examine by how much the regional per capita real GDP and growth rate drop when there is an extra 1 percentage point increase in the rent-seeking activities in the housing market.
