IF ALONSO WAS RIGHT: MODELING ACCESSIBILITY AND EXPLAINING THE RESIDENTIAL LAND GRADIENT |
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| Authors: | Gabriel Ahlfeldt |
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| Institution: | Lecturer in Urban Economics and Land Development, Department of Geography and Environment, London School of Economics and Political Science, Houghton St S408, London WC2A 2AE, U.K.E‐mail: g.ahlfeldt@lse.ac.uk |
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| Abstract: | ABSTRACT This study provides an empirical evaluation of employment accessibility as a determinant of urban land price. We find that the monocentric model, despite recent criticism, can perform satisfyingly if the hedonic value of land is identified in an account of structural and neighborhood characteristics. Gravity employment accessibility measures, however, can explain the residential land gradient entirely and disentangle positive accessibility effects from negative congestion effects related to transport infrastructure. They can therefore be recommended as an appropriate mean to account for labor market accessibility in an environment of dispersed employment, at least if the transport geography is accounted for. |
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