Transcription of Housing Constraints and Spatial Misallocation
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Housing Constraints and Spatial Misallocation
American Economic Journal: Macroeconomics 2019, 11(2): 1 39. Housing Constraints and Spatial Misallocation . By Chang-Tai Hsieh and Enrico Moretti*. We quantify the amount of Spatial Misallocation of labor across US. cities and its aggregate costs. Misallocation arises because high productivity cities like New York and the San Francisco Bay Area have adopted stringent restrictions to new Housing supply, effectively limiting the number of workers who have access to such high productivity. Using a Spatial equilibrium model and data from 220.
2 AMERICAN ECONOMIC JOURNAL: MACROECONOMICS APRIL 2019 Misallocation arises because the constraints on housing supply in the most pro-ductive US cities effectively limit the number of workers who have access to such
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