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Title: Urban Density and the Substitution of Market Purchases for Home Production

Citation Type: Miscellaneous

Publication Year: 2012

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Abstract: This paper offers a new microfoundation for urban agglomeration that is based on the margin between home and market production of services: Proximity between consumers and service providers in dense areas facilitates demand for market services due to a low time cost of purchasing services. Agglomeration economies arise out of the high demand for market services and corresponding low home production. In equilibrium dense economic regions have higher market incomes, prices, and labor supply.

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Authors: Murphy, Daniel

Publisher: University of Michigan

Data Collections: IPUMS USA

Topics: Housing and Segregation

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