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American Economic Journal: Microeconomics: Vol. 2 No. 4 (November 2010)

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Identification and Semiparametric Estimation of Equilibrium Models of Local Jurisdictions

Article Citation

Epple, Dennis, Michael Peress, and Holger Sieg. 2010. "Identification and Semiparametric Estimation of Equilibrium Models of Local Jurisdictions." American Economic Journal: Microeconomics, 2(4): 195-220.

DOI: 10.1257/mic.2.4.195

Abstract

We develop a new model of household sorting in a system of residential neighborhoods. We show that this model is partially identified without imposing parametric restrictions on the distribution of unobserved tastes for neighborhood quality and the shape of the indirect utility function. The proof of identification is constructive and can be used to derive a new semiparameteric estimator. Our empirical application focuses on residential choices in the Pittsburgh metropolitan area. We find that sorting of households with children exhibit more stratification by income than sorting of households without children. (JEL C51, D12, H41, J12, R21, R23)

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Authors

Epple, Dennis (Carnegie Mellon U)
Peress, Michael (U Rochester)
Sieg, Holger (U PA)

JEL Classifications

C51: Model Construction and Estimation
D12: Consumer Economics: Empirical Analysis
H41: Public Goods
J12: Marriage; Marital Dissolution; Family Structure; Domestic Abuse
R21: Urban, Rural, and Regional Economics: Housing Demand
R23: Urban, Rural, and Regional Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics

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