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UID:28529603ae7c2d788a0f52dab1f6ad21
CATEGORIES:Seminars
CREATED:20171103T160001
SUMMARY:Daniel Sturm - London School of Economics
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:The Making of the Modern Metropolis: Evidence from London (with Stephan Heb
 lich and Steve Redding)\nAbstract:\nModern metropolitan areas involve large
  concentrations of economic activity and the transport of millions of peopl
 e each day between their residence and workplace. We use the revolution in 
 transport technology from the invention of steam railways, newly-constructe
 d partially disaggregated data for London from 1801-1921, and a quantitativ
 e urban model to provide evidence on the role of these commuting flows in s
 upporting such concentrations of economic activity. Steam railways dramatic
 ally reduced travel times and permitted the first large-scale separation of
  workplace and residence. We show that our model is able to account for the
  observed changes in the organization of economic activity, both qualitativ
 ely and quantitatively. In counterfactuals, we find that removing the entir
 e railway network reduces the population and the value of land and building
 s in Greater London by 20 percent or more, and brings down commuting into t
 he City of London from more than 370,000 to less than 60,000 workers.\n
DTSTAMP:20260406T075932Z
DTSTART:20171109T170000Z
DTEND:20171109T183000Z
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