イベントカレンダー
We study a multi-regional endogenous growth model in which forward-looking consumers choose their regions to live in, in addition to consumption and capital accumulation paths. The spatial distribution of economic activity is determined by the interplay between production spillover effects and urban congestion effects. We characterize the global stability of spatial equilibrium in terms of economic primitives such as consumers' time preference and intra- and inter-regional externalities. We also discuss how macroeconomic variables at the stable equilibrium behave according to the structure of spillover network.
更新日:2017.07.11