Date/Time
Date(s) - 26/03/2025
11:30 am - 12:30 pm

Andrii Parkhomenko, Assistant Professor from University of Southern California, Marshall School of Business, will present to our economics graduate students and faculty on Wednesday, March 26 in KTH 334!

Andrii is an Assistant Professor at the Department of Finance and Business Economics at the University of Southern California, Marshall School of Business. He also serves as a visiting fellow at Kyiv School of Economics. His research interests include spatial economics, urban economics, macroeconomics, and housing. He will present the paper, “Dynamic Urban Economics” (with Greaney and Van Nieuweburgh)

Abstract

We develop a dynamic urban model combining features of quantitative spatial and macro-housing models. It includes multiple locations, forward-looking households, commuting, costly migration, uninsurable income risk, housing tenure choice, and housing frictions. The model operates in continuous time, with shocks and choices occurring at discrete intervals. This “mixed time” approach enables efficient computation of steady-state equilibria and transition dynamics, even with thousands of location pairs. Using a model of the San Francisco Bay Area, we show how forward-looking behavior, spatial frictions, and transition dynamics reshape estimated effects of spatially heterogeneous shocks and policies, traditionally studied with static models.

View Andrii’s professional website.