Does new shopping centre development benefit or harm the local suburban market? Heterogeneous effects from shopping centre type and distance

PublikationArtikel (med peer review)
Martin Korpi, Oana Mihaescu

Sammanfattning

We study the effects of new shopping centre developments on the performance of 7041 retail and hospitality firms located in the suburbs of Stockholm, Gothenburg, and Malmö. In particular, we analyse to what extent these effects vary with respect to the distance to, and characteristics of, these newly established centres. Exploiting data covering a 17-year period (2000–2016) in a fixed-effects panel regression framework, we find that the establishment of new neighbourhood centres is associated with an average increase in revenues and employment for retail incumbents by + 1.80% and + 1.20%, respectively, for each 100-m reduction in distance to the respective centre. Similarly, the introduction of large regional centres is associated with an increase in the revenues and employment of hospitality firms by + 1.40% and + 1.20%, respectively, for every 100-m decrease in proximity to the new shopping centre. Retail firms are affected by regional centres only in terms of their revenues, which increase by + 0.70% for each 100-m decrease in distance. Our results indicate a diminishing impact of both regional and neighbourhood centres with increased distance, suggesting a broader geographical reach for the effects of regional centres.

Mihaescu, O., Korpi, M., & Öner, Ö. (2024). Does new shopping centre development benefit or harm the local suburban market? Heterogeneous effects from shopping centre type and distance. The Annals of Regional Science, 1-25.


Liknande innehåll

Ratio Working Paper No 363: City Size, Employer Concentration, and Wage Income Inequality
Working paperPublikation
Korpi, M., & Halvarsson, D.
Publiceringsår

2023

Publicerat i

Rati Working Paper Series.

Sammanfattning

In this paper, we build upon a monopsony framework, suggested by Card et. al. 2016, which links firm level productivity and rent-sharing to wage inequality. Specifically, our research questions address i) to which extent labor market concentration across firms (within different types of locally situated industries) affects variation in wages among workers within these firms and industries, and ii) how this variation in turn spills over into economy-wide inequality (measured at the level of local labor markets). Using linked employer-employee full population data for Sweden, and an AKM modelling framework to separate between worker- and firm-level heterogeneity, our results suggest that higher firm-level fixed effects (a measure of rent-sharing) is associated with lower labor market employer concentration, something which affects average wage income among firms accordingly. Addressing wage income inequality by applying our model to different segments of the local labor market income distribution, we find that reduced average employer concentration in larger cities accounts for almost all variation in the (positive) link between city size-and wage inequality, except for the largest metropolises where it captures around 30-50 percent of variation depending on the income segment that we focus on.

Absolute income mobility and the effect of parent generation inequality: An extended decomposition approach
Artikel (med peer review)Publikation
Liss, E., Korpi, M., & Wennberg, K.
Publiceringsår

2023

Publicerat i

European Economic Review, 152, 104359.

Sammanfattning

We use full-population data to study trends in intergenerational absolute income mobility, measured as the ratio of children earning more than their parents, for 11 Swedish cohorts born 1972–1983. Absolute mobility during this period increases from 72% to 84% for men and from 76% to 86% for women—higher figures than in most other countries studied. To explain these results, we outline a novel decomposition strategy that accounts for cohort variation in parent-generation income inequality. All else equal, if income inequality is higher in the parent generation, more economic growth is required to achieve any given level of absolute mobility. We discuss implications for comparative research in intergenerational income mobility.

Ratio Working Paper No. 358: Native Population Turnover & Emerging Segregation: The Role of Amenities, Crime and Housing
Working paperPublikation
Korpi, M., Halvarsson, D., Öner, Ö., A.V. Clark, W., Mihaescu, O., Östh, J. & Bäckman, O.
Publiceringsår

2022

Publicerat i

Ratio Working Paper.

Sammanfattning

Using geo-coded full-population grid-level data for the three largest metropolitan areas in Sweden, 1993-2016, this paper i) estimates the level and pace of ethnic segregation, ii) examines possible tipping points in this development, and iii) gauges the importance of several mitigating or exacerbating factors (such as the mix of housing area tenure type, different types of amenities, and crime). We use OLS and 2SLS to estimate outcomes at two different geographic levels; 250 x 250 square meter grids and SAMS areas (roughly equivalent to US census tracts), respectively. On average, we find that for every 1 percentage point increase in immigration, native growth is reduced by around -0.3 percentage points. Crime levels exacerbate developments and factors such as housing area tenure-type mix and access to various amenities slows it down, but only marginally so. Using repeated and single random sampling for cross-validation, and the twin common methodological approaches as suggested in the literature, we estimate possible tipping points in these segregation developments. In contrast to most other studies in the literature, none of our potential tipping points are however statistically significant when probing their relevance in explaining factual population developments, suggesting a rather more continuous – albeit steeply so – segregation process rather than a structural brake. In terms of tipping point methodology, our main findings are that fixed-point estimation is less robust than R-square maximization for small geographical units, and that the former consistently selects for lower tipping-point candidates than the latter.

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