Global Growth and National Urban Development with Housing

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Fiscaoeconomia
Volume:4 Issue:2
Global Growth and National Urban Development with Housing

Global Growth and National Urban Development with Housing

Authors : Weibin ZHANG

Pages : 382-421

Doi:10.25295/fsecon.2020.02.007

View : 17 | Download : 15

Publication Date : 2020-05-31

Article Type : Research Paper

Abstract :The purpose of this study is to examine dynamic interactions among economic growth, housing markets, residential distribution and international trade. The paper builds a multi-country growth model with economic geography and capital accumulation. The unique feature of the paper is to introduce economic geography and housing markets into a multi-country growth model with microeconomic foundations. The model is developed by integrating the four well-known key models – the Solow growth model, the Oniki–Uzawa trade model, the Alonso urban model, and the Muth housing model – in growth theory, international growth economics and urban economics within a comprehensive framework. We show that the dynamics of the J -country world economy can be described by J differential equations. We also simulate the global economy with three countries.
Keywords : Trade Pattern, Residential Structure, Growth, Capital Accumulation

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