Quigley - Urban Diversity and Economic Growth by John...

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Urban Diversity and Economic Growth by John Quigley What effect does urban diversity have on economic growth? Four periods of intense study of cities a. During the decade after WWI b. Mid-1960s c. New York city in the late 1950s - Economies of Scale - External economies d. 1980s and forward Implications of Agglomeration - How do diversity and large size affect the level of output and the level of well- being achievable in a city? (Table 1 on P. 131) - Better pairing of workers and their skills - Housing exchange models - Greater stock of human and physical capital Either rent is going to expensive or transportation costs into the city are going to balance the rent expense. Productivity increases in cities. Holding all other things identical, workers in the city would make more money than in less-populated areas. - Industrial diversity is an important factor for economic performance (Jane Jacobs) o Diversity fosters specialization in inputs and outputs, yielding higher returns - Henderson et. al. “Their careful empirical analysis suggests that the extent of
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This note was uploaded on 02/03/2012 for the course PHILOSOPHY 375 taught by Professor Heatherdemarest during the Spring '12 term at Rutgers.

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Quigley - Urban Diversity and Economic Growth by John...

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