Simulating wages and house prices using the NEG

Bernard Fingleton ()

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: The paper incorporates house prices within an NEG framework leading to the spatial distributions of wages, prices and income. The model assumes that all expenditure goes to firms under a monopolistic competition market structure, that labour efficiency units are appropriate, and that spatial equilibrium exists. The house price model coefficients are estimated outside the NEG model, allowing an econometric analysis of the significance of relevant covariates. The paper illustrates the methodology by estimating wages, income and prices for small administrative areas in Great Britain, and uses the model to simulate the effects of an exogenous employment shock.

JEL-codes: J01 N0 R14 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2009-04
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Citations: View citations in EconPapers (5)

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http://eprints.lse.ac.uk/33209/ Open access version. (application/pdf)

Related works:
Working Paper: Simulating Wages and House Prices Using the NEG (2009)
Working Paper: Simulating Wages and House Prices Using the NEG (2009)
Working Paper: Simulating Wages and House Prices Using the NEG* (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:33209

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