Abstract
This paper is to provide a preliminary result on the
possibility of achieving socially efficient outcome given the complex
relationship between housing price difference and human capital mobility within
a region across different cities. With a general equilibrium model by slightly
modifying the existing work with the feature of Hukou included, we find
that, if there is there is no congestion in commuting and no spillover in
production, the equilibrium allocation can be efficient even with housing price
difference and household registration management restriction (Hukou)
given the existence of equilibrium.
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