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Structural empirical models of spatial inequalities: housing choices, policies and generational consequences

Abstract : This dissertation consists of three essays on the structural analysis of spatial inequalities. The first two essays rely on estimated parameters while the third is a fully calibrated model. In the first essay, we investigate the magnitude of individual willingness to pay for housing and neighborhood attributes by estimating a dynamic hedonic model. We use the mobility choice from the housing tenure data and the observed hedonic housing characteristics as the main sources of identification. Our results show that the observed and unobserved housing characteristics are negatively correlated. Failure to take into account the endogeneity bias could underestimate the true value of the observed characteristics of housing. In the second essay, I propose an equilibrium search model to assess the effectiveness of the French Employment Zones Policies. Each metropolitan area is considered as a local labor market that consists of a central location and an inner suburb. Firms and individuals may decide to move as an outcome of the policy. The results demonstrates that the policy has very limited effect on unemployment. Further investigations indicate that for the policy to work, the number of firms in ZFUs should be multiplied by 20, which constitutes an objective out of reach. Finally, in the third essay, I analyze the contribution of differences across individuals and locations to the dynamics of segregation and inequalities. I develop a Bewley-Huggett-Aiyagari type model where several frictions are represented. More precisely, we allow for segmentation between homeowners and renters in the housing market, imperfection in the capital market and individual mobility over the life-cycle. The dynamics of price combined to bequest motive provide the perfect framework to understand the tenure choice of individuals.
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  • HAL Id : pastel-00702737, version 1

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Modibo Sidibe. Structural empirical models of spatial inequalities: housing choices, policies and generational consequences. Economics and Finance. Université Lumière - Lyon II, 2011. English. ⟨pastel-00702737⟩

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