What Future for History Dependence in Spatial Economics?

Jeffrey Lin and Ferdinand Rauch

No 20-47, Working Papers from Federal Reserve Bank of Philadelphia

Abstract: History (sometimes) matters for the location and sizes of cities and neighborhood segregation patterns within cities. Together with evidence on rapid neighborhood change and self-fulfilling expectations, this implies that nature might not completely determine the spatial structure of the economy. Instead, the spatial economy might be characterized by multiple equilibria or multiple steady-state equilibrium paths, where history and expectations can play decisive roles. Better evidence on the conditions under which history matters can help improve theory and policy analysis.

JEL-codes: N9 R1 (search for similar items in EconPapers)
Pages: 21
Date: 2020-12-09
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Citations: View citations in EconPapers (7)

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Journal Article: What future for history dependence in spatial economics? (2022)
Working Paper: What Future for History Dependence in Spatial Economics? (2020)
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DOI: 10.21799/frbp.wp.2020.47

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