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DTSTART;TZID=Europe/Helsinki:20220419T121500
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SUMMARY:David Gomtsyan (Université de Rouen) - "Building the city under financial frictions"
DESCRIPTION:Microeconometrics Seminar: Every Tuesday \nTime: 12:15 pm – 13:30 pm\nDate: 19th of April 2022\nRoom : 3001 \nDavid Gomtsyan (Université de Rouen) – “Building the city under financial frictions” \nAbstract: In African cities the construction process of many small and medium-sized buildings proceeds very slowly and may take decades. To explain this phenomenon and understand its consequences\, this paper introduces endogenous house construction into a heterogeneous agent model with idiosyncratic risk and borrowing constraints. Investments in construction serve as a means for asset accumulation and income generation. The model is calibrated to match key characteristics of the housing market in Nairobi. Counterfactual simulations show that improvements in credit provision can substantially speed up the expansion of the housing stock of the city and increase the average number of floors in newly constructed buildings. \nOrganizers:\nBenoît SCHMUTZ (Pôle d’économie du CREST)\nRoland RATHELOT (Pôle d’économie du CREST) \nSponsors:\nCREST \n
URL:https://econ.ip-paris.fr/event/david-gomtsyan-universite-de-rouen-building-the-city-under-financial-frictions/
CATEGORIES:Microeconometrics
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