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Reply to the alternative optimal growth controls
Abstract. Sasaki (2002) argues that: (1) “the agglomeration effect in the (Lai and Yang 2002, (L-Y)) paper is different from the introduction of urban production in Sasaki (1998)”; and (2) the “treatment of public good in the (L-Y) paper is strange,” because the public good provided by owner-residents is only consumed by renter-residents. This reply shows that (1) the agglomeration effect in the L-Y model catches the key results of urban production presented in Sasaki's model; and (2) both renter and owner-residents consuming the public good have been developed in this reply. However, the major conclusions of the L-Y model are still hold.
Reply to the alternative optimal growth controls
Abstract. Sasaki (2002) argues that: (1) “the agglomeration effect in the (Lai and Yang 2002, (L-Y)) paper is different from the introduction of urban production in Sasaki (1998)”; and (2) the “treatment of public good in the (L-Y) paper is strange,” because the public good provided by owner-residents is only consumed by renter-residents. This reply shows that (1) the agglomeration effect in the L-Y model catches the key results of urban production presented in Sasaki's model; and (2) both renter and owner-residents consuming the public good have been developed in this reply. However, the major conclusions of the L-Y model are still hold.
Reply to the alternative optimal growth controls
Lai, Fu-Chuan (author) / Yang, Shu-Tsung (author)
2002
Article (Journal)
English
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