書報討論演講內容，歡迎有興趣的學士班同學踴躍參與。
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地點：工程一館108
時間：2016年 12 月 20日（星期二） 下午 5：30 - 6：20
講者：余朝恩 教授
領域：國立清華大學 經濟系
演講題目： Housing Market and Agglomeration of Rent-Seeking
Activities: Implications for Regional Development
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Abstract:
This paper is a pioneering attempt to analyze the agglomeration of rentseeking
activities geographically and its corresponding impact on regional economies.
First of all, we consider the migration of rent seekers and producers in a theoretical
model with a scenario of how the entry of rent seekers into a region yields a pecuniary
externality that transfers producers’ output into rent seekers’ income.
Next, conditions for the agglomeration of rent-seeking activities are characterized,
which constitute partially segregated equilibria.
An example with quasilinear preferences shows that the
smaller the price elasticity of housing or the size of the regions, the more likely it is
that rent-seeking activities tend to agglomerate.
Finally, based on a panel data analysis for the conterminous 48 states in the U.S., the hurt from an extra 1 percentage point increase in rent-seeking activities in housing markets is statistically larger than a counterpart loss in the human capital in terms of the impact on the per capita real GDP and the growth rate.
JEL Classification: D72, O18, R11.
Keywords: Rent Seeking; Housing Market; Regional Development