Urban Redevelopment Program and Demand Externality

Daiji Kawaguchi, Keisuke Kawata and Chigusa Okamoto
Additional contact information
Daiji Kawaguchi: Faculty of Economics, The University of Tokyo
Keisuke Kawata: Institute of Social Sciences, and also Center for Social Research and Data Archives, The University of Tokyo
Chigusa Okamoto: Faculty of Economics, Chuo University and Center for Research and Education in Program Evaluation (CREPE), Faculty of Economics, The University of Tokyo

No CIRJE-F-1227, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: Demand externality generated by the agglomeration of commercial activities is a poten- tial source of city formation. We study the impact of a large-scale urban redevelopment program involving the construction of a shopping complex at the center of Tokyo. The redevelopment program increased the land price and commercial building use in its neighborhood. It also increased the total sales of neighborhood rms but not their pro ts. We argue that the redevelopment program generated substantial demand ex- ternality but the bene t fell on the landlord.

Pages: 51 pages
Date: 2024-04
New Economics Papers: this item is included in nep-his and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.cirje.e.u-tokyo.ac.jp/research/dp/2024/2024cf1227.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2024cf1227

Access Statistics for this paper

More papers in CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo Contact information at EDIRC.
Bibliographic data for series maintained by CIRJE administrative office ().