A Rational Expectations Equilibrium Model of Urban Growth and Land Markets

被引：0

作者：

Fujita, Masahisa ^{[1
]}

机构：

[1] Univ Penn, Dept Reg Sci, Philadelphia, PA 19104 USA

来源：

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 1991年 / 4卷 / 02期

基金：

美国国家科学基金会;

关键词：

Land market; uncertainty; rational expectations; urban growth;

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper presents a simple model of urban spatial growth under uncertainty with an infinite time horizon. The rational expectations equilibrium path (REE path) of the urban land market is obtained in explicit form as a function of exogenously given stochastic processes of future population, transport and household income in the city. Spatial and temporal characteristics of asset prices along the REE path are examined in detail.

引用

页码：225 / 265

页数：41

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