Gentrification and the Rising Returns to Skill

Lena Edlund (), Cecilia Machado and Maria Micaela Sviatschi

No 21729, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In 1980, housing prices in large US cities rose with distance from the city center. By 2010, that relationship had reversed. We propose that the inversion can be traced to more hours worked by the skilled. Scarce non-market time downgrades the importance of residential space and upgrades that of proximity to work, factors favoring the central-city location. Geo- coded census micro data covering the 27 largest US cities and the period 1980-2010 support our hypothesis: full-time skilled workers are more likely to locate in the city center and their growth can account for the observed price changes.

JEL-codes: R21 R30 (search for similar items in EconPapers)
Date: 2015-11
New Economics Papers: this item is included in nep-geo and nep-ure
Note: LS
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Citations: View citations in EconPapers (34)

Published as Lena Edlund & Cecilia Machado & Maria Sviatschi, 2022. "Gentrification and the Rising Returns to Skill," Economica, vol 89(354), pages 258-292.

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