A Theory of Heterogeneous City Evolution with Heterogenous Agents
This paper develops a new unified theoretical general equilibrium model in which the interactions between heterogeneous workers and firms influence heterogeneous city evolutions. Given the heterogeneous worker–firm–city framework, I study in depth the possible heterogenous city evolutions and the re...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-07-01
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| Series: | Systems |
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| Online Access: | https://www.mdpi.com/2079-8954/11/7/360 |
| _version_ | 1797587372638994432 |
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| author | Jaewon Jung |
| author_facet | Jaewon Jung |
| author_sort | Jaewon Jung |
| collection | DOAJ |
| description | This paper develops a new unified theoretical general equilibrium model in which the interactions between heterogeneous workers and firms influence heterogeneous city evolutions. Given the heterogeneous worker–firm–city framework, I study in depth the possible heterogenous city evolutions and the resulting implications on the labor market, as well as on overall productivity. In particular, it is shown that the same exogenous shocks may lead to completely different results depending on the relative dominance of the two countervailing effects of congestion and agglomeration. In an open economy setting, it is also shown that such relative dominance may affect the trading partner and generate the comovement of city evolution in each country. |
| first_indexed | 2024-03-11T00:36:04Z |
| format | Article |
| id | doaj.art-45737f46d788484187fc6e4069b4073b |
| institution | Directory Open Access Journal |
| issn | 2079-8954 |
| language | English |
| last_indexed | 2024-03-11T00:36:04Z |
| publishDate | 2023-07-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Systems |
| spelling | doaj.art-45737f46d788484187fc6e4069b4073b2023-11-18T21:36:07ZengMDPI AGSystems2079-89542023-07-0111736010.3390/systems11070360A Theory of Heterogeneous City Evolution with Heterogenous AgentsJaewon Jung0School of Business and Economics, Dankook University, Yongin 16890, Republic of KoreaThis paper develops a new unified theoretical general equilibrium model in which the interactions between heterogeneous workers and firms influence heterogeneous city evolutions. Given the heterogeneous worker–firm–city framework, I study in depth the possible heterogenous city evolutions and the resulting implications on the labor market, as well as on overall productivity. In particular, it is shown that the same exogenous shocks may lead to completely different results depending on the relative dominance of the two countervailing effects of congestion and agglomeration. In an open economy setting, it is also shown that such relative dominance may affect the trading partner and generate the comovement of city evolution in each country.https://www.mdpi.com/2079-8954/11/7/360urban systemscity evolutioncongestion economiesagglomeration economiesheterogeneous agentssorting |
| spellingShingle | Jaewon Jung A Theory of Heterogeneous City Evolution with Heterogenous Agents Systems urban systems city evolution congestion economies agglomeration economies heterogeneous agents sorting |
| title | A Theory of Heterogeneous City Evolution with Heterogenous Agents |
| title_full | A Theory of Heterogeneous City Evolution with Heterogenous Agents |
| title_fullStr | A Theory of Heterogeneous City Evolution with Heterogenous Agents |
| title_full_unstemmed | A Theory of Heterogeneous City Evolution with Heterogenous Agents |
| title_short | A Theory of Heterogeneous City Evolution with Heterogenous Agents |
| title_sort | theory of heterogeneous city evolution with heterogenous agents |
| topic | urban systems city evolution congestion economies agglomeration economies heterogeneous agents sorting |
| url | https://www.mdpi.com/2079-8954/11/7/360 |
| work_keys_str_mv | AT jaewonjung atheoryofheterogeneouscityevolutionwithheterogenousagents AT jaewonjung theoryofheterogeneouscityevolutionwithheterogenousagents |