【国際経済学セミナーと共催】
要旨：This paper examines the impact of temperature changes on rural-urban migration using a 56km×56km grid cell level dataset covering the whole world at 10-year frequency during the period 1970-2000. We find that rising temperatures reduce rural-urban migration in poor countries and increase such migration in middle-income countries. These asymmetric migration responses are consistent with a simple model where rural-urban earnings differentials and liquidity constraints interact to determine rural-to-urban migration flows. We also confirm these temperature effects using country-level observations constructed by aggregating the grid cell level data. We project that expected warming in the next century will encourage further urbanization in middle-income countries such as Argentina, but it will slow down urban transition in poor countries like Malawi and Niger.

要旨：This paper investigates unit-level monthly dynamics of housing rents through periods of tenancy and vacancy, using a unique panel of rental units in Tokyo through 1996-2017. We find that (i) consistent overall rent stickiness is attributable to the small extensive margin (limited adjustment opportunity) and small intensive margin (rare adjustment at contract renewal stages); (ii) expanded rent gaps from market level during tenancies become small during vacancies; and (iii) rents exhibit time/state dependence during both tenancies and vacancies, while a specific relationship between a long-term tenant and an owner results in a discount during the tenancy.

AY2018

Program

要旨：When making a location decision, a firm considers only its own trading costs and ignores trading costs paid by trading partner firms. The exclusion of the latter is the source of locational externalities. We examine this locational externality in the Tokyo metropolitan area, using the actual trade networks. Results show (1) we classify what trade patterns involve locational externalities, (2) the ratio of trades involving locational externalities is about 8%, and (3) the transfer of a randomly-chosen 5% of firms to the center of Tokyo can generate external benefits of 0.13-0.21% in the total industry in terms of value added.