GENERAL EQUILIBRIUM OF SPATIAL PRODUCT AND LABOR MARKETS*

ABSTRACT A simple general equilibrium model relates spatial product markets and spatial labor markets. The firm is treated as being a spatial monopolist or as a Löschian competitor in the output market and as a spatial monopsonist in the labor market. Derived free spatial demand and free regional labor supply are defined, and their properties examined. The model provides the framework for analyzing the impact of a technological improvement in labor productivity on the structure of the spatial markets. The impact of entry on spatial labor supply is an important determinant of whether or not entry lowers wages and raises output prices. Unlike the spaceless competitive paradigm, zero-profit long-run equilibrium can occur in a space economy under conditions of increasing returns to scale.     

SENSITIVITY ANALYSIS FOR GENERAL SPATIAL PRICE EQUILIBRIA

ABSTRACT. General spatial price equilibrium models are formulated as variational inequalities. Sensitivity analysis results recently developed for variational inequalities are reviewed which give conditions for existence and equations for calculating the derivatives of solution variables with respect to perturbation parameters. These results are applied to the variational inequality formulations of general spatial price equilibria, and derivatives of supplies, demands, flows, and prices with respect to perturbations of supply functions, demand functions, and transportation-cost functions are calculated.     

A Spatial Price Determination Model for Multi‐Market Heterogeneously Distributed Resources: An Application to Forestry Markets in Sweden

The spatial dimension is a key paradigm in price determination, as attested by recent studies in the literature that highlighted the differential in market behavior between spatial and non‐spatial pricing settings. In this paper, we develop a model of spatial pricing for multi‐market heterogeneously distributed resources, with an application to the Swedish forestry sector. The focus of the model is to estimate the impact of spatial interaction on the demand for resources in terms of resource allocation, competition, and pricing. In its core, the pricing mechanism relies on a supply–demand framework. Using disaggregated data at the gridcell level for forest feedstock supply and harvesting costs in Sweden, we construct regional supply curves for each gridcell assuming a maximum transportation distance to delimit the potential market. Demand nodes are exogenously determined and are adjusted using a distance‐decay model to assess demand pressure across locations. We apply the model empirically to assess the impact on forest feedstock prices of a 20 TWh increase in biofuel production.     

Public Goods and the Derivation of Land Value Assessment Schedules within a Spatial Equilibrium Setting

A method of mapping the classic economic public good into a spatial realm is identified. Within the spatial equilibrium land use model an ideal government distributes a public good; sets mill rates, assesses land, and collects property taxes; and maintains a balanced budget. Equilibrium is brought about within the household sector by the unfolding of the land value schedule both over space and in response to the public sector. The household and public sectors are mutually within a steady state when there is no excess demand or supply of public good. The model is extended to elucidate Tiebout's hypothesis that government activity is reflected in land values. Also, a criterion for judging fairness of the spatial equilibrium assessment schedule is presented and applied.     

SPATIAL DISEQUILIBRIUM

ABSTRACT. The well-known extremal principle for the solution of spatial equilibrium for a single commodity [Samuelson (1952)] is extended to deal with the case of disequilibrium caused by rigid prices and/or price controls. Both disequilibrium in consumer markets and in factor markets is covered.
The study of disequilibrium is well known in general interdependent economic systems (the so-called fixed-price model of interdependent systems). The present work extends this approach to the spatial dimension, and shows how it is possible to represent and solve disequilibrium models by mathematical programming rather than by fixed-point techniques.     

Housing Market Dynamics Under Stochastic Growth: An Application to the Housing Market in Boulder, Colorado

Recent housing-market studies have modeled slow stock and price adjustment with some success. However, the empirical procedures used in these models break down if housing stocks or prices are driven by stochastic growth. In this paper I suggest an error-correction model for analyzing housing supply and demand under conditions of stochastic growth for a regional housing market. The model is applied to the housing market in Boulder, Colorado from 1981 through 1995—a period of rapid growth in housing values in the area. Long-run housing supply and demand are shown to be inelastic with respect to changes in the price of housing. The results indicate that developers respond more accurately to housing-market disequilibrium attributable to supply-side disturbances than to disturbances generated by changes in the demand for housing. On the other hand, price appreciation is driven primarily by demand disturbances.     

PREFERENCE HETEROGENEITY AND ECONOMIC GEOGRAPHY*

ABSTRACT We investigate the effect of preference heterogeneity between skilled and unskilled workers on agglomeration, and we identify a new source of dependence of equilibrium prices on the demand properties shaped by the inter‐regional distribution of workers. We find a new preference effect, and we show that when the intensity of skilled workers' preference for the modern good and its variety is strong enough, prices charged by firms may even increase when the mass of local firms increases, therefore acting as a new dispersion force when trade costs are low or as a new agglomeration force when trade costs are high.     

北京市公共服务设施供需协调发展的时空演化特征——以教育医疗设施为例

公共服务设施的优化配置是构建和谐社会、改善民生的内在要求。本文通过构建协调发展度模型,对北京市2001年和2012年16个区县教育医疗设施供需关系及二者协调发展的时空演化特征进行研究。研究认为:①教育设施"供不应需",供需差距增大;协调发展等级总体较低且有下降趋势;协调发展水平由"东高西低"向"南高北低"格局演变,空间差异增大。②医疗设施"供不应需",供需差距缩小;供需协调发展等级较低但有上升趋势,空间格局由"中心集聚"向"南高北低"演变,空间差异减小。     

Optimizing the Spatial Structure of the Agricultural Production Function

Important characteristics of spatial agricultural production functions are derived by introducing a non‐negative curvilinear spatial demand function for production input intensities. Given the usual neoclassical rationale assumptions of spatial demand for capital and labor inputs under competitive environment of farming in developing agricultural economies, the optimal production levels are determined by optimizing spatial demand for production inputs. Decreasing price‐to‐transport costs ratio (that is, decrease in the prices of capital goods or increase in freight rates) and increasing wage‐to‐travel costs ratio (that is, increase in labor wages or decrease in the travel rate) expand the limits of the (spatial) optimal boundary of the demand for agricultural capital goods and labor input respectively. These effects occur on account of the operation of (positive) spatial price gradient and (negative) wage‐gradient in the market region. It may be noted that elasticities of demand for production factors are spatially variant and have significant effects on the alterations in the structure of agricultural production. However, the spatial optimal solution of production has a complicated relationship with them. The price elasticity has negative and wage elasticity has positive spatial gradients in the market region. Farmers located in the periphery of the market region are not much affected by the proportionate changes occurring in the prices of agricultural capital goods but are more sensitive to the proportional changes in labor wages. Because of a decreasing trend in capital input demand and increase in labor input with distance from the market, capital‐product diminishes with a decreasing rate and labor‐product increases with an increasing rate in the spatial structure of agricultural production. As a result, capital‐labor ratio falls toward zero, which raises profit rate per unit of capital investment especially in the outer part of the market region. The equilibria of optimal production with price elasticity as well as of capital intensity with labor employment (that is, capital‐labor ratio as unity) determine spatial limits of the optimal production zone which is shifted outward subject to the provision of cheap transportation, stabilizing market prices and/or increasing wage rate at the market center. It will help in extending outwardly the optimal spatial limits of capital investment and will mobilize capital resources of farmers in the periphery for efficient and competitive capital‐dominated farming.     

SPATIAL PRICING IN INTERDEPENDENT MARHETS*

ABSTRACT. Conditions for spatial price equilibrium are derived for a set of firms in oligopolistic spatial competition, distributed at fixed locations in a heterogeneous region where consumer purchasing patterns are a probabilistic function of the price distribution rather than a deterministic function of proximity to firms. The resulting prices vary with accessibility to consumers or with the degree of local spatial monopoly, and result in non-zero profits for firms. Conditions describing the existence and stability properties of this spatial price equilibrium are defined, and are shown to be equivalent for two different hypotheses concerning disequilibrium pricing behavior: a partial price adjustment model and a Bertrand game. For two different profit goals, total profit maximization and profit rate maximization, it is shown that a spatial price equilibrium exists and is at least locally quasi-stable.     

Location Equilibrium for Cournot Oligopoly in Spatially Separated Markets

Consider a two-stage non-cooperative Cournot game with location choice involving n≥ 2 firms each with several facilities. There are m≥ 2 spatially separated markets constituting the vertices of a network. Each firm first selects the locations of their facilities and then selects the quantities to supply to the markets to maximize its profit. There exists a Nash equilibrium in the quantities offered by each firm at the markets. Furthermore, when the demand in each market is sufficiently large, each firm chooses to locate its facilities only at vertices. With linear demand in each market, there exists a Nash location equilibrium.     

广州城市公共服务设施供给空间分异研究

转型期以来,政府治理制度的变革及公私部门关系的重构使我国城市公共服务设施供给主体、供给机制逐步多元化,其分布形态也由空间均衡趋向分异。本文以广州为案例,研究结果表明:广州城市公共服务设施分布总体上呈核心-边缘空间格局,区域供给规模差异大且与人口分布不相协调,区际及不同类型设施的空间聚集水平差异显著;传统计划经济条件下城市公共服务设施空间均衡分布模式被市场经济条件下高收入地区指向的集中布局模式所取代,表现出类似西方国家城市公共资源配置的"反比例服务法则"。     

HEDONIC PRICING WHEN HOUSING IS ENDOGENOUS: THE VALUE OF ACCESS TO THE TRANS‐ISRAEL HIGHWAY*

Standard hedonic house pricing assumes that house prices are independent of the intangible to be priced. A methodology is proposed in which the supply as well as the demand for housing depends on the intangible. The methodology is applied to value access to the Trans‐Israel Highway (TIH). Using spatial panel data (2002–2008) we show that TIH had two effects on the housing market. It increased house prices in locations with greater access to TIH, and it affected housing construction. Standard hedonic pricing would have underestimated the value of access because it ignores the effects of housing construction on the intangible to be priced. House prices began to increase three years before TIH was inaugurated, but housing construction did not anticipate the inauguration of TIH.     

THE IMPACT OF STATE LAND-USECONTROLS ON RESIDENTIAL LAND VALUES

In this paper, we examine the effects of state land-use controls on the aggregate demand and supply of residential land. Previous studies have examined the effect of land-use regulation on housing prices using single-equation estimation. We estimate a three-equation intejurisdidional supply-demand model of land-use controls. Our results suggest that land-use regulations have a significant impact on both the demand and supply of residentid land as expected.     

TWO-DIMENSIONAL BERTRAND COMPETITION: BLOCK METRIC,EUCLIDEAN METRIC,AND WAVES OF ENTRY*

This paper examines two-dimensional spatial competition, with Bertrand price determination. With a block metric, equilibrium prices are significantly lower when market areas are squares than when they are diamonds (rotated squares) of the same size. If demand density grows, waves of entry occur, and the shapes of market areas change from squares to diamonds and back to squares again. The former change leaves prim unchanged, whereas the latter cuts prices in half. Results are also derived for a Euclidean metric, with square and hexagonal market areas. Optimal waves of entry are examined with the block metric. With either metric, the socially optimal market shape becomes suboptimal if market areas are constrained to be of the zero-profit size.     

Cournot Retail Chains

In this paper a model of spatial Cournot competition among retail firms is devised and used to assess the effect of a variety of structural factors on retail prices and profits. The model illustrates the spatial chain of interaction that firms must anticipate to reach equilibrium when organized in chains or as independents. It shows the sensitivity of price to the location of stores, the number of stores per location, and transportation cost.     

2018年湖北省旅游供需的空间结构特征分析——以A级景区为例

以湖北省内A级景区和客源地为研究对象,运用数理统计和空间计量方法系统探究旅游供需的空间结构特征.结果表明:①湖北省旅游供需要素具有较强的集聚分布态势,供需状况整体较差且区域差异显著,呈现明显的资源和人口指向性;②客源密集的江汉平原腹地和交通不便、高等级景区稀疏的外围边缘山区供需联系强度较低,高等级景区集聚的区域供需联系...     

A NEW APPROACH TO MODELING THE IMPACT OF DISRUPTIVE EVENTS

This paper develops a new methodology to predict the interregional and interindustry impacts of disruptive events. We model the reactions of economic agents by minimizing the information gain between the pre‐ and postevent pattern of economic transactions. The resulting nonlinear program reproduces, as it should, the pre‐event market equilibrium. The methodology is tested further by means of a comparison of this base scenario with two regional production shock scenarios and two interregional trade shock scenarios. The outcomes show a plausible combination of partially compensating demand, supply, and spatial substitution effects, which justifies the further development, testing, and application of this new approach.     

教育资源配置对住房价格影响的时空差异研究——以35个大中城市为例

本文以2002-2017年35个大中城市为数据基础,借鉴Rosen-Roback城市空间均衡模型,测度大中城市教育资源对住房价格的影响差异性。研究发现：①控制其他变量后,教育事业费支出水平每提高1%,住房价格水平平均上涨0.156个百分点;②空间维度上,沿海城市的教育资源对住房价格的影响,显著小于内陆城市;而政治级别的差异在大中城市间的影响较小;③时间维度来看,教育资源对住房价格的影响在各时期都是显著存在的,表明教育资源的影响具有长期累积特征;从影响程度绝对值来看,影响系数具有随时间递减的特征。     

国际油价波动对日本经济均衡的影响

2005年以来,国际原油价格剧烈震荡,除实体经济层面的供求因素外,能源作为金融商品的虚拟经济属性被放大,预期、投机、突发事件、汇率波动因素等都可能成为引燃油价波动的导火索。新的油价变动特点,使日本更加难以保持经济的内外均衡。从内部看,企业、行业间的收入分配效应分散了油价上涨的通货膨胀效果,具有技术垄断优势、善于利用金融工具避险及有效采取能源分散化和节能措施的企业与行业受油价波动的冲击更小。从外部看,进口成本增加和出口成本转嫁不完全引起了日本贸易条件恶化;石油美元通过贸易渠道和资本渠道的回流,对日本的国际收支产生一定影响;日元升值因素一定程度上缓和了高油价的冲击。日本政府、企业、居民的不懈努力创造了日本经济超低能耗的奇迹,这个奇迹将日本抵御油价波动的能力变成现实。．