Date(s) - 12/01/2017
3:00 pm - 4:30 pm
Categories No Categories
The last seminar in the Department of Economics Seminar Series for the Fall 2017 term is Friday, 12/1/17. The seminars are open to everyone and are held in the Behavioral Sciences building, room 103, at 3:00pm.
This week’s speaker is Devin Bunten. Bunten is an economist in the Research and Statistics Division of the Federal Reserve Board in Washington, D.C. Bunten’s research centers on urban economics, with a focus on housing, zoning, and gentrification. Bunten holds a PhD in economics from the University of California, Los Angeles (2016), as well as an MA in economics from Colorado State (2010) and a BA in film studies from the University of Colorado-Denver (2005).
Bunten is presenting their paper “When The Neighborhood Goes: A Quantitative Analysis of the Effects of Gentrification on Individuals and Communities”
“Many urban neighborhoods in U.S. cities have been getting richer, better-educated, whiter, and more expensive—and often dramatically so, a process termed gentrification. In this paper, we provide a new dynamic framework to understand gentrification, derive novel predictions based on this framework and provide empirical confirmation, and then use the framework to study open empirical questions. Are existing residents displaced by gentrification, and does new construction slow or exacerbat displacement? Is gentrification chiefly about displacement, or is the demographic transition more about changes to the set of in-migrants? We provide evidence that gentrifying neighborhoods experience higher rates of out-migration than non-gentrifying neighborhoods. We find that constructing new housing units does not slow or limit displacement within the same neighborhood, but that nearby construction may be more helpful. We also show that out-migration rates are elevated for both likely renters and likely homeowners, although the processes causing both to move (and the harms to both) may be different. Finally, we highlight the potential costs beyond displacement that are felt by whole communities–in particular low-income communities and communities of color–when gentrification restricts access to central, transit-rich neighborhoods.“