One hundred fifty years of land values in Chicago: a nonparametric approach

Article Abstract:

A simple nonparametric estimator known as locally weighted regression is used for modeling spatial variation in land values in Chicago, IL, between 1836 to 1990. This approach, which adapts locally to shifting curvature in the function, involves a separate weighted least-squares regression suitable for each data point with more weight accorded to nearby observations. Estimated regression surfaces for the period 1836-1928 reveal that the monocentric city model sufficiently defined land values during the early 19th century, unless the functional form is not highly nonlinear. Estimates for 1960 to 1990 show that Chicago has stopped being a monocentric city, with O'Hare Airport functioning as a significant employment center and the blighted areas of the south and west sides having lower land values than the model anticipates.

Valuation, Chicago, Illinois, Real property, Real estate appraisal, Regression analysis

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Can blacks earn more in the suburbs? Racial differences in intra-metropolitan earnings variation

Article Abstract:

The spatial mismatch hypothesis is tested using data from the 1980 Detroit Census. The hypothesis holds that blacks could earn more if they relocate to the suburbs instead of living and working in the central city. Previous studies that support this theory, however, suffer from selection bias due to the endogenous nature of the choice of work location, which is dependent on earnings differentials between the suburbs and the central city. Thus, earnings and work location choice affect each other simultaneously. Tests using a maximum-likelihood model indicate that while black earnings are lower than those for comparable whites, work location choice for both groups is determined by pay offers. These results indicate evidence of residential segregation in the form of suburban premiums for black workers.

Finance, Employment, Suburbs, Employment discrimination, Blacks

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