摘要:

ABSTRACT.An equilibrium model of multimodal travel time improvements is developed and calibrated for the New York Metropolitan Area. The model employs a unified treatment of housing type, residential location and commuting mode choices with shopping (destination, frequency and mode) choices. Benefits of halving subway headways are reflected in consumer surplus and capitalized into producer surplus, with the latter divided between housing and commercial real estate. Sensitivity tests and simulations on other modes are also presented. Unlike the subway mode, across‐the‐board travel time improvements for bus, auto and commuter rail reduce central area housing rents, but auto improvements yield higher total benefits and increases in commercial re

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01409.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

ABSTRACT.This paper considers the bias of the matrix of multipliers when the underlying data are random. The traditional approach is to specify the stochastic nature of the input coefficients directly. It is shown that this approach implies a transactions table which is biased in a most unbalanced way. Next the practitioner's point of view, i.e., taking the transactions table as the source of random errors, is adopted. One of the results states that, within each row of the multiplier matrix, either the biases are zero, or positive biases are canceled out by negative biases in the sense that their weighted average is zero. The conditions are based on the idea that information on aggregates is more exact than information on their details. The usual asumptions of independence and unbiasedness of the individual errors are avoided. The results are shown to have a direct interpretation in connection with the RAS‐updating procedur

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01410.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

ABSTRACT.The paper presents a first attempt to unveil the underlying determinants of the geography of R&D labs within contemporary metropolises. To this end, the study builds on the premise of contemporary intraurban location and pricing models, suggesting that intraurban variations in property rents must reflect the imputed location preferences of firms or their workforce, as well as the extent to which local institutional constraints hinder these preferences. Against this background, the study proceeds with the econometric analysis of R&D property rent differentials within Greater Los Angeles. The empirical results indicate that access to research and nonresearch universities, transportation access, access to a host of worker amenities, as well as zoning and other local regulations play a critical role in shaping the intraurban geography of R&D labs.

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01411.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

ABSTRACT.The problem of spatial autocorrelation has been ignored in selection‐bias models estimated with spatial data. Spatial autocorrelation is a serious problem in these models because the heteroskedasticity with which it commonly is associated causes inconsistent parameter estimates in models with discrete dependent variables. This paper proposes estimators for commonly‐employed spatial models with selection bias. A maximum‐likelihood estimator is applied to data on land use and values in 1920s Chicago. Evidence of significant heteroskedasticity and selection bias is

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01412.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

ABSTRACT.An equilibrium model of office location is applied and tested in the Toronto metropolitan area. The model focuses on the role of communication among firms which is the driving force behind the spatial agglomeration of office firms. The model calculates the equilibrium floor rent in each district, given the existing building stock. The performance of the model is tested in terms of the goodness of fit between observed and estimated office rent in each district. By using the model, we estimate the value of agglomeration economies which is defined as changes in productivities caused by increases in the number of office firms. It is shown that the agglomeration economies in the office sector are much larger than those in manufacturing, and the external effects of agglomeration are considerably large.

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01413.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

ABSTRACT.Many rural regions are characterized by unstable economies. Studies that investigate economic instability in these regions, however, tend to examine the effects rather than causes of its occurrence. Efforts to diminish instability can only be successful if they address its sources. Using an input‐output model, a conceptual decomposition of the variance of gross output is used as a means of identifying supply and demand sources of instability. This framework can be used for empirical investigations into the causes of economic instability, and for the design of stabilization policies. Data limitations, however, may preclude some applications of the techniqu

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01414.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

ABSTRACT.Economic forecasting models are famous for performing well over short time periods and then suffering rapidly deteriorating performance when economic conditions change. This behavior makes composite forecasting models valuable in situations where large forecast errors cause considerable losses. A composite forecasting model for state‐level employment is proposed here. This method is designed to protect state budget processes by producing robust forecasts of changes in employment and the related revenue collections. An application to Georgia nonagricultural employment is presented which demonstrates the benefits of this technique. The example shows that the method can forecast such series accurately without the forecaster having to choose in advance a single model specification to all economic condition

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01415.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

ABSTRACT.The efficiency of the water utility firms in rural Nevada and their input optimization are examined in this study. The empirical methodology incorporates a hedonic specification of the nonminimum globally concave cost function in estimating the effect of the regulatory environment and the quality of water services on the optimum utilization of inputs. Allocative distortions are introduced through shadow prices and are specified as functions of regressors which make distortion factors firmand input‐specific. The results show that 76 percent of the water utilities of rural Nevada in the sample overutilize energy relative to labor. The impact of allocative distortions on each firm's cost is also compute

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01416.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

Book review in this article:Fractal Cities: A Geometry of Form and Function, by Michael Batty and Paul Longley.Nonlinear Evolution of Spatial Economic Systems, edited by Peter Nijkamp and Aura Reggiani.Environmental Modeling with GIS. edited by Michael F. Goodchild, Bradley O. Parks, and Louis T. Steyaert.From Combines to Computers: Rural Services and Development in the Age of Information Technology, by Amy K. Glasmeier and Marie Howland.The Geography of Innovation, by Maryann Feldman.Restructuring for Innovation: The Remaking of the U.S. Semiconductor Industry, by David P. Angel.The Shape of the City: Toronto Struggles with Modern Planning, by John Sewell.The Formation of American Local Governments: Private Values in Public Institutions, by Nancy Burns.The New Geography of European Migrations, edited by Russell King.Methodology for Land and Housing Market Analysis, edited by Gareth Jones and Peter M. Ward.Drought Follows the Plow, edited by Michael H. Glantz.

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01417.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

ISSN:0022-4146    

DOI:10.1111/j.1467-9787.1995.tb01418.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY