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Title: Rushing to Opportunity: Gentrification, Entrepreneurship, and City Growth

Citation Type: Working Paper

Publication Year: 2022

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Abstract: The growth of many industries, neighborhoods, and cities differ with some growing slowly and others experiencing rapid change-i.e., rushes. To explain these differences and illuminate the mechanisms of growth, we develop a model centered on a new trade-off between time-varying fundamentals and time-invariant-but rank-dependent-opportunities. Early growth depends on the opportunities new entities provide, whether from accumulating entrepreneurship human capital in firms, real estate in neighborhoods , or land in cities. Our model can explain the existence of rushes and their size. We provide suggestive empirical evidence on industry growth, neighborhood change, and city growth consistent with the model predictions.

Url: http://www.nathanseegert.com/papers/BehrensSeegert.pdf

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Authors: Behrens, Kristian; Seegert, Nathan

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Pages: 1-53

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Data Collections: IPUMS NHGIS

Topics: Land Use/Urban Organization

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