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Costo Regulatorio: Efectos del plan regulador en precios de departamentos
Costo Regulatorio: Efectos del plan regulador en precios de departamentos
20 septiembre 2021
Do political parties matter for municipal finances? Evidence from property reassessments and estate taxes∗
Do political parties matter for municipal finances? Evidence from property reassessments and estate taxes∗
10 diciembre 2020
Playing checkers in Chinatown
Playing checkers in Chinatown
30 octubre 2020
On the geography of Inequality: Labor sorting and place-based policies in general equilibrium
14 octubre 2019

On the geography of Inequality: Labor sorting and place-based policies in general equilibrium

  • Por: Santiago Truffa, Alexis Montecinos, Diogo Duarte
  • Research
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We study how cities’ amenities and restrictions on the housing supply contribute to aggregate wage inequality and affect housing prices through the sorting of heterogeneously skilled workers. We develop a general equilibrium model where workers differ along a continuum of skills and compete for limited housing. Our analysis suggests that spatial sorting accounts for 7.5% of the aggregate wage dispersion, increases average housing prices by 20–40% in constrained cities, and makes the economy 1.9% more productive. In addition, we evaluate a place-based policy that aims to expand the supply of houses in 1% in constrained cities and find that it improves aggregate productivity between 0.2% and 0.4%. However, the place-based policy has an unintended consequence of aggravating aggregate wage inequality by the same magnitude.

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