Building the city: sunk capital, sequencing, and institutional frictions
We model the building of a city, estimate parameters of the model, and calculate welfare losses from institutional frictions encountered in changing land-use. We distinguish formal and slum construction technologies; in contrast to slums, formal structures can be built tall, are durable, and non-mal...
| Main Authors: | , , |
|---|---|
| Format: | Working paper |
| Language: | English |
| Published: |
London School of Economics
2016
|