Calendrier du 06 novembre 2018
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 06/11/2018 de 17:00 à 18:00
R1, 1er étage, Salle R1-16
LE FORNER Héléne ()
Family Size, Birth Order and the Formation of Non-Cognitive Skills
écrit avec Simon Briole and Anthony Lepinteur
Paris Trade Seminar
Du 06/11/2018 de 14:45 à 16:15
Sciences Po, 27 rue Saint-Guillaume 75007 Paris, 1er étage, salle A 13
HALLER Stefanie (UCD)
How exporters grow
écrit avec Doireann Fitzgerald and Yaniv Yedid-Levi.
Applied Economics Lunch Seminar
Du 06/11/2018 de 12:30 à 13:30
Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
ESTEVEZ BAULUZ Luis ()
From Manufacturing to Services: The impact of Structural Change on the value of Housing
This paper connects the striking rise of national housing-to-national income ratios experienced by rich countries over the last decades decades with the transformation of the productive system: from manufacturing to services. It explores two factors: the increase in countries’ spatial concentration of economic activity and the negative shocks to manufacturing-specialized regions. To explore the first factor, I present new series of housing wealth and of spatial concentration of economic activity in seven developed economies: France, Germany, Italy, Japan, Spain, UK and USA. Results show that rising housing wealth is the consequence of higher urban land values, with this increase being tightly connected with larger concentration of market-oriented services. The second factor is investigated using urban-level data in England and Wales, thus analyzing how macro trends in house-income ratios emerge from the local level. I find that rising national values are largely the result of higher dispersion of local house prices, but not of incomes per capita. The best predictor of how house prices changed is the city-level specialization of the productive system. I estimate that one quarter of the dispersion in local house prices is explained by manufacturing output declining at the national level. A simple theoretical model is used to rationalize these two factors.