Full Citation

Title: The Rising Value of Time and the Origin of Urban Gentrification

Citation Type: Working Paper

Publication Year: 2019

ISBN:

ISSN:

DOI: 10.24149/wp1913

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Abstract: In recent decades, gentrification has transformed American central city neighborhoods. I estimate a spatial equilibrium model to show that the rising value of high-skilled workers' time contributes to the gentrification of American central cities. I show that the increasing value of time raises the cost of commuting and exogenously increases the demand for central locations by high-skilled workers. While change in the value of time has a modest direct effect on gentrification of central cities, the effect is substantially magnified by endogenous amenity improvement driven by the changes in local skill mix.

Url: https://dx.doi.org/10.24149/wp1913

User Submitted?: No

Authors: Su, Yichen

Series Title: Federal Reserve Bank of Dallas Working Paper

Publication Number: 1913

Institution: Federal Reserve Bank of Dallas

Pages:

Publisher Location: Dallas

Data Collections: IPUMS USA, IPUMS NHGIS

Topics: Housing and Segregation, Land Use/Urban Organization

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