Simulating Wages and House Prices Using the NEG
Fingleton, Bernard (2009) Simulating Wages and House Prices Using the NEG. Discussion paper. University of Strathclyde, Glasgow.
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Abstract
The paper incorporates house prices within an NEG framework leading to the spatial distributions of wages, prices and income. The model assumes that all expenditure goes to firms under a monopolistic competition market structure, that labour efficiency units are appropriate, and that spatial equilibrium exists. The house price model coefficients are estimated outside the NEG model, allowing an econometric analysis of the significance of relevant covariates. The paper illustrates the methodology by estimating wages, income and prices for small administrative areas in Great Britain, and uses the model to simulate the effects of an exogenous employment shock.
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Item type: Monograph(Discussion paper) ID code: 67800 Dates: DateEventApril 2009PublishedNotes: Published as a paper within the Discussion Papers in Economics, No. 09-13 (2009) Subjects: Social Sciences > Communities. Classes. Races > Regional economics. Space in economics
Social Sciences > StatisticsDepartment: Strathclyde Business School > Economics Depositing user: Pure Administrator Date deposited: 14 May 2019 10:45 Last modified: 31 Aug 2024 01:17 URI: https://strathprints.strath.ac.uk/id/eprint/67800