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Housing Constraints and Spatial Misallocation. (2015). moretti, enrico ; Hsieh, Chang-Tai.
In: NBER Working Papers.
RePEc:nbr:nberwo:21154.

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  2. Unveiling the policy intervention effects of natural resource regulation on firm-level pollution emissions: Evidence from Chinas restrained land supply. (2023). Zhang, Shaoxin ; Wei, Mianjin ; Du, Lizhao ; Pan, Junyu.
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  3. Do Restrictive Land Use Regulations Make Housing More Expensive Everywhere?. (2021). Reina, Vincent J ; Landis, John.
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  4. Offsetting Risk in a Neoliberal Environment: The Link between Asset-Based Welfare and NIMBYism. (2021). Record, Matthew C.
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  5. The misallocation in the Chinese land market. (2020). Fei, Xuan.
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  6. The misallocation in the Chinese land market. (2020). Fei, Xuan.
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  7. Skill, Agglomeration, and Inequality in the Spatial Economy. (2019). Farrokhi, Farid.
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  8. What Explains U.S. House Prices? Regional Income Divergence. (2019). Howard, Greg ; Liebersohn, Carl.
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  9. Housing markets and macroeconomic risks. (2019). Cournède, Boris ; Ziemann, Volker ; Cavalleri, Maria Chiara ; Cournede, Boris.
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  10. Local Ties in Spatial Equilibrium. (2019). Zabek, Mike.
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  11. Property Rights, Place-Based Policies, and Economic Development. (2019). Wheeler, Laurel.
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  12. Housing Constraints and Spatial Misallocation. (2019). moretti, enrico ; Hsieh, Chang-Tai.
    In: American Economic Journal: Macroeconomics.
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  14. Spatial Structural Change. (2018). Eckert, Fabian ; Peters, Michael.
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  15. Local Ties in Spatial Equilibrium. (2018). Zabek, Mike.
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  17. An Examination of the Link between Urban Planning Policies and the High Cost of Housing and Labor. (2018). Zhao, Weihua ; Yezer, Anthony ; Larson, William.
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  30. The Production Function for Housing: Evidence from France. (2016). Gobillon, Laurent ; Duranton, Gilles ; Combes, Pierre-Philippe.
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  31. The Production Function for Housing: Evidence from France. (2016). Gobillon, Laurent ; Duranton, Gilles ; Combes, Pierre-Philippe.
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  32. Housing prices raise wages: Estimating the unexpected effects of land supply regulation in China. (2016). Liang, Wenquan ; Lu, Ming ; Zhang, Hang.
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References

References cited by this document

  1. 14(2), pages 248-261, April Redding, Stephen (2014), Goods Trade, Factor Mobility and Welfare, Princeton University working paper.
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  8. Barro, Robert and Xavier Sala-i-Martin Convergence across States and Regions, Brookings Papers on Economic Activity, no. 1, 1991.

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  10. Basu, Susanto & Fernald, John G, 1997. Returns to Scale in U.S. Production: Estimates and Implications, Journal of Political Economy, vol. 105(2), pages 249-83, April.

  11. Baum-Snow, Nathaniel and Ronni Pavan “Understanding the City Size Wage Gap”, Review of Economic Studies, 2012, 79(1): 88-127.

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  13. Close, Grank and David E. Shulenburger, Industrial and Labor Relations Review, Vol. 24, No. 4 (Jul., 1971), pp. 588-602 Davis, Morris, Francois Ortalo-Magne “Household Expenditures, Wages and Rents” Review of Economic Dynamics 14-2, 2011.
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  14. Data on housing costs are measured as median annual rent from the 1960, 1970 US Census of Population and the 2008 and 2009 American Community Survey. For 1964, we linearly interpolate Census data between 1960 and 1970. Because rents may reflect a selected sample of housing units, in some models we use average housing prices. Data for 2009 are from individual level data from the American Community Survey. To get more precise estimate, we combine 2008 and 2009.
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  15. Data on housing supply elasticities, land use regulations and land availability are from Saiz (2010). They are intended to measure variation in elasticity that arises both from political constraints and geographical constraints. In 19 cities, Saiz data are missing. In those cases, we impute elasticity based on the relevant state average.
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  16. Data on total employment by county are never suppressed in the CBP. By contrast, data by county and industry are suppressed in the CBP in cases where the county-industry cell is too small to protect confidentiality. In these cases, the CBP provides not an exact figure for employment, but a range. We impute employment in these cases based on the midpoint of the range. We aggregate counties into MSA’s using a crosswalk provided by the Census based on the 2000 definition of MSA.
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  17. De La Roca, Jorge and Diego Puga, 'Learning by working in big cities', CEPR discussion paper 9243, December 2012.

  18. Desmet, Klaus, and Esteban Rossi-Hansberg. 2013. Urban Accounting and Welfare. American Economic Review, 103(6): 2296-2327.

  19. Diamond Rebecca, “Housing Supply Elasticity and Rent Extraction by State and Local Governments”, Stanford University, 2014.
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  20. Diamond, Rebecca, “The Determinants and Welfare Implications of US Workers' Diverging Location Choices by Skill: 1980-2000”, Stanford University , 2013.

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  23. For 1964, estimates are calculated based on figures in the BLS Directories, scaled to a level consistent with CPS estimates using information on years in which the two sources overlap. Only state averages are estimated in 1964. Thus, in 1964 we assume assign union density to each MSA based on the state average. coefficients for 1964 are: high-school or more .44; college or more .34; female: -1.13; non white: -.44; age: .004; union .14. The coefficients for 2009 are: high-school or more .50; college or more .51; female: -.45; non white: -.07; age: .007; union .14. Because a union identifier is not available in the 1964 CPS, the 1964 regression assumes that the coefficient on union is equal to the coefficient from 2009, which is estimated to be equal to .14.
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  24. For 2009, we can compare the wage residuals estimated our approach with those that one would obtain from individual level data. (Of course we can’t do this for 1964, because we don’t have micro data in that year). Appendix Figure 1 shows that while noisy, our imputed wage residuals do contain signal. The two measures have correlation .75.
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  35. Hsieh Chang-Tai and Peter J. Klenow, Misallocation and Manufacturing TFP in China and India, Quarterly Journal of Economics (2009) 124 (4): 1403-1448.

  36. In some models residual wage is defined as Wic – Xi’bs where bs is a vector of coefficients on workers characteristics from individual level regressions which is allowed to vary across states. The correlation in 2009 increases only marginally to .78.
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  37. Karabarbounis, Loukas and Brent Nieman (2014), The Global Decline of the Labor Share, Quarterly Journal of Economics, forthcoming.

  38. Kline Patrick and Enrico Moretti, People, Places and Public Policy: Some Simple Welfare Economics of Local Economic Development Programs”, Annual Review of Economics, 2014 Lewbel, Arthur and Krishna Pendakur, 2008, ”Tricks with Hicks: The EASI Implicit Marshallian Demand System for Unobserved Heterogeneity and Flexible Engel Curves.”, American Economic Review.

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  40. Moretti, Enrico, “The New Geography of Jobs” Houghton Mifflin Harcourt (2012).
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  41. Morris A. Davis & Francois Ortalo-Magne, 2011. Household Expenditures, Wages, Rents, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol.

  42. Our sample consists of 220 MSA’s with non-missing values in 1964 and 2009. These cities account for 71.6% of US employment in 1964 and 72.8% in 2009. They account for 74.3% of US wage bill in 1964 and 76.3% in 2009. The average city employment is 144,178 in 1964 and 377,071 in 2009. Appendix Table A1 presents summary statistics.
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  43. Redding, Stephen Economic Geography: a Review of the Theoretical and Empirical Literature, Chapter 16 in The Palgrave Handbook of International Trade, 2011 Redding, Stephen and Matt Turner “Transportation Costs and the Spatial Organization of Economic Activity, Handbook of Urban and Regional Economics, forthcoming, 2015.

  44. Saiz, Albert 2010. The Geographic Determinants of Housing Supply, Quarterly Journal of Economics, Vol. 125(3), pages 1253-1296, August.

  45. Serrrato, Juan Carlos Suarez and Owen Ziidar, “Who Benefits from State Corporate Tax Cuts? A Local Labor Market Approach with Heterogeneous Firms”, mimeo, 39 Data Appendix In this appendix we describe where each variable used in the paper comes from. We begin by measuring average wages in a county or in a country-industry cell by taking the ratio of total wage bill in private sector industries and total number of workers in private sector industries using CBP data for 1964-65 (referred to as 1964) and 2008-2009 (referred to as 2009). To increase sample size and reduce measurement error, we combine 1964 with 1965 and 2008 with 2009. 1964 is the earliest year for which CBP data are available at the county-industry level.
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  46. Specifically, we merge 1964 CBP average wage by MSA to a vector of workers characteristics from the 1960 US Census of Population; we also merge 2009 CBP average wage by MSA to a vector of workers characteristics from the 2008 and 2009 ACS. These characteristics include: three indicators for educational attainment (high school drop-out, high school, college); indicators for race; an indicator for gender; and age. We drop all cases where education is missing. In the small number of cases where one of the components of the vector other than education is missing, we impute it based on the relevant state average.
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  47. The main strength of the CBP is a fine geographical-industry detail and the fact that data are available for as far back as 1964.26 But CBP is far from ideal. The main limitation of the CBP data is that it does not provide worker level data on salaries, but only a county aggregate and therefore does not allow us to control for changes in worker composition. We augment CBP data with information on worker characteristics from the Census of Population and the ACS.
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  22. Policy Distortions and Aggregate Productivity with Heterogeneous Plants. (2008). Rogerson, Richard ; Restuccia, Diego.
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  23. Search and Rest Unemployment. (2008). Shimer, Robert ; Alvarez, Fernando.
    In: NBER Working Papers.
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  24. Search and Rest Unemployment. (2008). Shimer, Robert ; Alvarez, Fernando.
    In: EIEF Working Papers Series.
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  25. Limited enforcement and the organization of production. (2008). Quintin, Erwan.
    In: Journal of Macroeconomics.
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    In: Working Papers.
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  27. Foreign Know-How, Firm Control, and the Income of Developing Countries. (2007). Monge-Naranjo, Alexander ; Burstein, Ariel.
    In: NBER Working Papers.
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  28. Policy Distortions and Aggregate Productivity with Heterogeneous Plants. (2007). Rogerson, Richard ; Restuccia, Diego.
    In: NBER Working Papers.
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  29. Stock market boom and the productivity gains of the 1990s. (2007). Quadrini, Vincenzo ; Jermann, Urban.
    In: Journal of Monetary Economics.
    RePEc:eee:moneco:v:54:y:2007:i:2:p:413-432.

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  30. Macroeconomic Implications of Size-Dependent Policies. (2007). Xu, Yi ; Ventura, Gustavo ; Guner, Nezih.
    In: CEPR Discussion Papers.
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  31. Modeling the Transition to a New Economy: Lessons from Two Technological Revolutions. (2007). Kehoe, Patrick ; Atkeson, Andrew.
    In: American Economic Review.
    RePEc:aea:aecrev:v:97:y:2007:i:1:p:64-88.

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  32. Modeling the transition to a new economy: lessons from two technological revolutions. (2006). Kehoe, Patrick ; Atkeson, Andrew.
    In: Staff Report.
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  33. Finance Matters. (2005). Quintin, Erwan ; Amaral, Pedro.
    In: Macroeconomics.
    RePEc:wpa:wuwpma:0502007.

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  34. Modeling and measuring organization capital. (2005). Kehoe, Patrick ; Atkeson, Andrew.
    In: Staff Report.
    RePEc:fip:fedmsr:291.

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  35. Growing old together: firm survival and employee turnover. (2005). Stevens, John ; Quintin, Erwan.
    In: Finance and Economics Discussion Series.
    RePEc:fip:fedgfe:2005-22.

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  36. Finance matters. (2005). Amaral, Pedro ; Quintin, Erwan.
    In: Center for Latin America Working Papers.
    RePEc:fip:feddcl:0104.

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  37. Aggregate Consequences of Limited Contract Enforceability. (2004). Quadrini, Vincenzo ; Marimon, Ramon.
    In: Journal of Political Economy.
    RePEc:ucp:jpolec:v:112:y:2004:i:4:p:817-847.

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  38. Investment and liquidation in renegotiation-proof contracts with moral hazard. (2004). Quadrini, Vincenzo.
    In: Journal of Monetary Economics.
    RePEc:eee:moneco:v:51:y:2004:i:4:p:713-751.

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  39. Aggregate Consequences of Limited Contract Enforceability. (2004). Quadrini, Vincenzo ; Marimon, Ramon.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:4173.

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  40. Aggregate consequences of limited contract enforceability. (2003). Quadrini, Vincenzo ; Marimon, Ramon.
    In: Economics Working Papers.
    RePEc:upf:upfgen:843.

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  41. Aggregate Consequences of Limited Contract Enforceability. (2003). Quadrini, Vincenzo ; Marimon, Ramon.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:10132.

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  42. Aggregate Consequences of Limited Contract Enforceability. (2003). Quadrini, Vincenzo ; Cooley, Thomas ; Marimon, Ramon.
    In: Working Papers.
    RePEc:bge:wpaper:1.

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  43. Stock Market Boom and the Productivity Gains of the 1990s. (2002). Quadrini, Vincenzo ; Jermann, Urban.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:9034.

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  44. The transition to a new economy after the Second Industrial Revolution. (2002). Kehoe, Patrick ; Atkeson, Andrew.
    In: Proceedings.
    RePEc:fip:fedfpr:y:2002:i:nov:x:2.

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  45. Knowledge Spillovers and Inequality. (2002). Jovanovic, Boyan ; Eeckhout, Jan.
    In: American Economic Review.
    RePEc:aea:aecrev:v:92:y:2002:i:5:p:1290-1307.

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  46. The transition to a new economy after the Second Industrial Revolution. (2001). Kehoe, Patrick ; Atkeson, Andrew.
    In: Working Papers.
    RePEc:fip:fedmwp:606.

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  47. Limited enforcement and the organization of production. (2001). Quintin, Erwan.
    In: Center for Latin America Working Papers.
    RePEc:fip:feddcl:0601.

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  48. Technology Locks, Creative Destruction, and Non-Convergence in Productivity Levels. (1998). Dwyer, Douglas .
    In: Review of Economic Dynamics.
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  49. Industry Evolution and Transition: A Neoclassical Benchmark. (1997). Kehoe, Patrick ; Atkeson, Andrew.
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  50. Industry evolution and transition: measuring investment in organization. (1995). Kehoe, Patrick ; Atkeson, Andrew.
    In: Staff Report.
    RePEc:fip:fedmsr:201.

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