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UID:02d57b77dea5bd38c56c11c6e43ea952
CATEGORIES:Seminars
CREATED:20240711T063539
SUMMARY:Ryungha Oh - Yale University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nSpatial Sorting of Workers and Firms\n\n\nAbstract:\nWhy do productive 
 workers and firms locate together in dense cities? I develop a new theory o
 f two-sided sorting in which both heterogeneous workers and firms sort acro
 ss space. The location choices of workers and firms affect each other and e
 ndogenously generate spatial disparities in the presence of three essential
  forces: complementarity between worker and firm productivity, random match
 ing within frictional local labor markets, and congestion costs. I demonstr
 ate that the decentralized equilibrium exhibits excessive concentration of 
 workers and firms, and dispersing them away from dense locations can mitiga
 te congestion without reducing output. I then provide direct empirical evid
 ence of the two-sided sorting mechanism using German administrative microda
 ta. An exogenous increase in the quality of the workforce in a location res
 ults in more productive firms choosing that location. Finally, to quantify 
 the implications of the model, I calibrate it to U.S. regional data and sho
 w that policies that relocate workers and firms toward less dense areas can
  increase welfare.\n
DTSTAMP:20260426T230617Z
DTSTART:20241118T163000Z
DTEND:20241118T180000Z
SEQUENCE:0
TRANSP:OPAQUE
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