What is the counterfactual permitting rate?A measure of how relaxed permitting is in the city under the counterfactual. Higher means more relaxed, so the city facilitates more housing construction.
What's the difference between population-weighted and incumbent-weighted consumption?Population-weighted consumption measures the full city-level consumption (income minus the costs of living) for all city residents, so it captures the full economic gain when people move to more productive cities. Incumbent-weighted consumption means only originally incumbent residents enjoy city-level consumption, while newcomers receive the rural consumption level. This reflects the fact that newcomers bear the permitting cost of moving into the city, which offsets the consumption gain from moving in.
What is the counterfactual permitting rate?A measure of how relaxed permitting is in the city under the counterfactual. Higher means more relaxed, so the city facilitates more housing construction.
What's the difference between population-weighted and incumbent-weighted consumption?Population-weighted consumption measures the full city-level consumption (income minus the costs of living) for all city residents, so it captures the full economic gain when people move to more productive cities. Incumbent-weighted consumption means only originally incumbent residents enjoy city-level consumption, while newcomers receive the rural consumption level. This reflects the fact that newcomers bear the permitting cost of moving into the city, which offsets the consumption gain from moving in.
What is the counterfactual permitting rate?A measure of how relaxed permitting is in the city under the counterfactual. Higher means more relaxed, so the city facilitates more housing construction.
What is the counterfactual permitting rate?A measure of how relaxed permitting is in the city under the counterfactual. Higher means more relaxed, so the city facilitates more housing construction.
What is the counterfactual permitting rate?A measure of how relaxed permitting is in the city under the counterfactual. Higher means more relaxed, so the city facilitates more housing construction.
What is the counterfactual permitting rate?A measure of how relaxed permitting is in the city under the counterfactual. Higher means more relaxed, so the city facilitates more housing construction.
What is the counterfactual permitting rate?A measure of how relaxed permitting is in the city under the counterfactual. Higher means more relaxed, so the city facilitates more housing construction.