要旨：This paper builds on the canonical model of city systems with micro-foundations in terms of input sharing. This model is amended so that the production of local intermediates goes along with emissions in addition to labor. This modification affects the balance between agglomeration economies and crowding costs in favor of the latter. Emissions may have a negative impact on the welfare of consumers locally and globally for the entire city system. National and local governments are assumed to be benevolent and set environmental policies which take the negative effect of emissions on consumers into account. The paper characterizes and compares the social optimum with the allocations under local governments and land developers, allowing for environmental policies to be set either nationally or in decentralized fashion.

要旨：We examine the fine microstructure of commuting in a game-theoretic setting with a continuum of commuters. Commuters' home and work locations can be heterogeneous. A commuter transport network is exogenous. Traffic speed is determined by link capacity and by local congestion at a time and place along a link, where local congestion at a time and place is endogenous. The model can be reinterpreted to apply to congestion on the internet. We find sufficient conditions for existence of equilibrium, that multiple equilibria are ubiquitous, and that the welfare properties of morning and evening commute equilibria differ.

AY2016
program

[Abstract]

This paper proposes a new test for selecting trigonometric terms when the deterministic trend of a univariate time series is periodic.
The problem of unknown frequencies in such a cyclical trend was first investigated by Anderson (1971) under the assumption of serially uncorrelated error term, but we allow for an autoregressive error term without prior knowledge as to whether the error term is stationary or contains an autoregressive unit root. This is achieved by modifying the test statistic proposed by Perron, Shintani and Yabu (2016) which requires the assumption of a known set of frequencies. We show that limiting distribution of our test statistic can be common between the stationary and unit root cases even if frequencies are unknown. Simulation results confirm that our procedure works well with sample size typically available in practice. We illustrate the usefulness of our method via an application to international data on unemployment rate.