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International trade models typically consider countries exchanging goods/services, while urban models often examine the consequences of domestic trade for city structure. Relatively little known research synthesizes these to allow for shocks propagating domestically with both domestic and international trade. One exception is Autor et al. (2013), who examine how Chinese imports impact US domestic labor markets.We consider how city-to-city trade and city international exports impact city Gross Domestic Product (GDP) and housing price growth. We develop a theoretical model of trading cities, domestically and internationally, and explore its empirical predictions. We propose and estimate several empirical models. Using instrumental variables (IV), we identify city-level GDP growth impacts on city house price growth. This first equation follows from imposing spatial equilibrium across cities. The second IV equation examines how international exports from a city, transfers, and domestic shipments impact city-level GDP. We also consider a third set of equations, which explores how economic integration, domestic and international, affects city-level GDP growth. In general, our empirical estimation results confirm the signs/magnitudes predicted by the theory, and imply that labor market shocks in trading cities affect city-level GDP, which in turn impacts housing prices. This theoretical approach, synthesis of city-level data, and empirical analysis are completely novel.
Urban models often examine the consequences of domestic trade for city structure. We consider how GDP growth impacts Metropolitan Statistical Area (MSA) housing price growth, while allowing for iceberg shipping costs. We develop a theoretical model of spatial equilibrium among cities where there is capital mobility between them and explore its empirical predictions. Using instrumental variables (IV), and a unique set of instruments including time-varying MSA-level military contract awards, we identify city-level GDP growth impacts on city house price growth. This equation follows from imposing spatial equilibrium across cities. In general, our empirical estimation results confirm the signs of the relationships predicted by the theory, i.e., greater GDP growth in a city leads to higher house prices. Our theoretical approach, synthesis of MSA-level data, and empirical analysis are novel.
This book contains fifty selections from classic writings by authors such as John Friedmann, Michael Peter Smith, Saskia Sassen, Peter Taylor, Manuel Castells and Anthony King, as well as major contributions by other international scholars of global city formation.
Cities of Commerce develops a model of institutional change in European commerce based on urban rivalry. Cities continuously competed with each other by adapting commercial, legal, and financial institutions to the evolving needs of merchants. Oscar Gelderblom traces the successive rise of Bruges, Antwerp, and Amsterdam to commercial primacy between 1250 and 1650, showing how dominant cities feared being displaced by challengers while lesser cities sought to keep up by cultivating policies favorable to trade. He argues that it was this competitive urban network that promoted open-access institutions in the Low Countries, and emphasizes the central role played by the urban power holders--the magistrates--in fostering these inclusive institutional arrangements. Gelderblom describes how the city fathers resisted the predatory or reckless actions of their territorial rulers, and how their nonrestrictive approach to commercial life succeeded in attracting merchants from all over Europe. Cities of Commerce intervenes in an important debate on the growth of trade in Europe before the Industrial Revolution. Challenging influential theories that attribute this commercial expansion to the political strength of merchants, this book demonstrates how urban rivalry fostered the creation of open-access institutions in international trade.
Some vols. include supplemental journals of "such proceedings of the sessions, as, during the time they were depending, were ordered to be kept secret, and respecting which the injunction of secrecy was afterwards taken off by the order of the House".
Cities in a World Economy examines the emergence of global cities as a new social formation. As sites of rapid and widespread developments in the areas of finance, information and people, global cities lie at the core of the major processes of globalization. The book features a cross-disciplinary approach to urban sociology using global examples, and discusses the impact of global processes on the social structure of cities. The Fifth Edition reflects the most current data available and explores recent debates such as the role of cities in mitigating environmental problems, the global refugee crisis, Brexit, and the rise of Donald Trump in the United States.
Contains annual, time-series data with national coverage on almost any aspect of United States economics, population or infrastructure since the government began recording statistics. Part 1 covers: Population. Vital statistics and health and medical care. Migration. Labor. Prices and price indexes. National income and wealth. Consumer income and expenditures. Social statistics. Land, water, and climate. Agriculture. Forestry and fisheries. Minerals. Part 2 covers: Construction and housing. Manufactures. Transportation. Communications. Energy. Distribution and services. International transactions and foreign commerce. Business enterprise. Productivity and technological development. Financial markets and institutions.