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BEGIN:VEVENT
UID:93c3be135fa36cf40aab960eb530a5b6
CATEGORIES:Seminars
CREATED:20150210T191014
SUMMARY:Lunch Seminar: Richard Hornbeck - Harvard University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Creative Destruction: Barriers to U
 rban Growth and the Great Boston Fire of 1872 </strong></p><p style="text-a
 lign: justify;">Abstract:</p><p style="text-align: justify;">Historical cit
 y growth, in the United States and worldwide, has required remarkable trans
 formation of outdated durable structures. Private land-use decisions may ge
 nerate persistent inefficiencies, however, due to externalities and various
  rigidities. This paper analyzes new plot-level data in the aftermath of th
 e Great Boston Fire of 1872, estimating substantial economic gains from the
  opportunity for urban redevelopment in rapidly growing areas. An important
  mechanism appears to be positive externalities from neighbors’ reconstruct
 ion. Strikingly, gains from this opportunity for urban redevelopment were s
 ufficiently large that increases in land values were comparable to the valu
 e of all burned buildings.</p>
DTSTAMP:20260405T211046Z
DTSTART:20140721T130000Z
DTEND:20140721T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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