讲座主题：International Travel Costsand Local Housing Markets

主讲嘉宾：傅十和（厦门大学王亚南经济研究院、英国上市公司官网365，教授）

讲座时间：2018年11月30日（周五），下午3：30-5：00

讲座地点：沙河校区主教303

嘉宾简介：傅十和，美国波士顿学院经济学博士，现任厦门大学王亚南经济研究院、英国上市公司官网365教授，教育部新世纪优秀人才支持计划（2007年）入选者，厦门大学南强青年拔尖人才支持计划（2017）入选者。傅十和教授的研究方向包括城市、区域与房地产经济学，劳动经济学和环境经济学，在《经济研究》、《Review of Economics and Statistics》、《Journalof Public Economics》、《Journal of Labor Economics》、《Journal of Environmental Economics and Management》等国内外重要学术期刊上发表多篇论文，并承担国家自然科学基金项目等重要课题。

内容摘要：This paper identifies theeffect of international travel costs on local housing markets. Theinternational travel cost is measured by whether an American city has launcheda nonstop flight to a Chinese city. Using difference-in-differences models, wefind that after an American airport connected with China via a nonstop flight,the monthly number of Chinese homebuyers in a county nearby the airportincreased by about one; local housing prices at the county level on averageincreased by $5900 (4%). We also find a significant decrease in the number oflocal non-Chinese homebuyers, suggesting a displacement effect in the localhousing markets by out-of-town homebuyers. Our findings imply that thespatial equilibrium model based on inter-city migration within a country can belargely generalized to international migration. Our study also contributes tothe literature on the economics of air travel and out-of-town homebuyers.

本讲座获得2018年中央财经大学专题学术讲座项目资助。