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CATEGORIES:Land Economy Departmental Seminar Series
SUMMARY:Land prices\, commuting\, and transport infrastruc
 ture - Professor Coen Teulings
DTSTART;TZID=Europe/London:20140129T160000
DTEND;TZID=Europe/London:20140129T170000
UID:TALK50112AThttp://talks.cam.ac.uk
URL:http://talks.cam.ac.uk/talk/index/50112
DESCRIPTION:Land prices provide information on the value of tr
 ansport infrastructure and other public goods. We 
 develop a general equilibrium model for home and j
 ob location\, modal split\, residential land use\,
  and agglomeration effects on productivity. The mo
 del is estimated using data on wages\, transport i
 nfrastructure\, commuting behavior\, land use and 
 land prices for residential real estate\, all at a
  detailed geographical level of 3000 Zip-codes in 
 The Netherlands. We extend the standard multinomia
 l logit model by a translog cost function for land
  use\, which allows testing the model’s assumption
 s. We show that applying Bayes’ rule allows rewrit
 ing the home location model in a tractable form wh
 ere the land price return for local amenities depe
 nds on the composition by education level of the p
 opulation in the Zip code\, as it should.\nWe appl
 y this model to analyze the effect of infrastructu
 re on welfare and to the differences in location c
 hoices between education levels. The model allows 
 us to make a decomposition of the economic effects
  by travel times\, by modal split\, by the thicken
 ing of labor markets\, the agglomeration effect\, 
 spatial distribution of home and job location\, an
 d land use.\n\nCoen Teulings is currently Professo
 r at the University of Cambridge\, with a part-tim
 e affiliation to the University of Amsterdam.  Pri
 or positions include the head of department of inc
 ome policy at the Ministry of Social Affairs\, the
  director of the Tinbergen Institute and later the
  director of the SEO Economic Research. From 2006 
 to 2013\, prof. Teulings was the director of the C
 PB Netherlands Bureau for Economic Policy Analysis
 .\n\nCoen Teulings is Professor of Economics at th
 e University of Amsterdam since 2004. From 2006-20
 13 he was director of the CPB Netherlands Bureau f
 or Economic Policy Analysis\, a major economic thi
 nk tank in the Netherlands and the independent adv
 isor of the Dutch government and parliament.\n
LOCATION:Mill Lane Lecture Room 7
CONTACT:Joanna Laver
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