Prime locations

Gabriel Ahlfeldt, Thilo Albers and Kristian Behrens

No 15470, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Using establishment-level data for the three largest US metropolitan areas, big data for 125 global cities world-wide, and a methodology combining both, we delineate the densest clusters of economic activity. We show that---within cities---these prime locations concentrate 35\% of tradable services employment on 0.3\% of developable land. Although only 40\% of our sampled cities are monocentric, prime locations are---consistent with the theoretical workhorse urban models---the nuclei of distance gradients, even in polycentric cities. Cities with fewer prime locations further concentrate a larger tradable services share in them, underscoring the importance of agglomeration economies for those locations.

Keywords: Clustering (search for similar items in EconPapers)
JEL-codes: R38 R52 R58 (search for similar items in EconPapers)
Date: 2022-03
New Economics Papers: this item is included in nep-cmp and nep-ure
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Working Paper: Prime locations (2020)
Working Paper: Prime Locations (2020)
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