Events Calendar

Jeffrey Lin, Federal Reserve Bank of Philadelphia

Empirical Microeconomics

Friday, April 19, 2024, 01:30pm - 03:00pm

"Expecting an Expressway" (joint with Jeff Brinkman and Kyle Mangum)

Abstract: We provide theory and evidence on the role of self-fulfilling expectations in determining urban spatial structure. In U.S. central cities, there was near certainty in the mid-1950s that planned urban highway segments would reduce neighborhood quality of life, as Interstate builders enjoyed widespread support and faced few constraints. But unanticipated federal and state reforms led to the permanent cancellation of some highway projects after 1973. Planned—but never constructed—urban Interstate segments caused neighborhood declines through 1970, and these declines persisted for decades afterwards, despite plan cancellation. These results are consistent with forward-looking behavior and strong economies of density in residential location choice.

1:30pm-3:00pm | In Person, 3rd Floor Library, NJ Hall | Coordinators: Tom Prusa & Hector Blanco Fernandez

Location  In Person, 3rd Floor Library, NJ Hall
Contact  Tom Prusa & Hector Blanco Fernandez