主题：Transportation Technology and Gentrification: Evidence from Ridesharing Services
主讲人：Sumit Agarwal，新加坡国立大学教授、亚洲金融和经济研究局（ABFER）主席
时间：6月6日（周五）上午10:00-11:30
地点：4-101教室
语言：英文
摘要：
We analyze the staggered entry of ridesharing services across U.S. metropolitan areas, estimating its effect on spatial redistribution and real outcomes of households. By reducing the cost of personal transportation, ridesharing services incentivize the urban in-migration of higher income individuals, raising urban rents and housing prices by about 6 and 9 percent, respectively. The effect on incumbent residents is conditional on ex ante homeownership. For homeowners, there is small displacement and a decline in delinquency rates. For non-homeowners, displacement and delinquency rates increase 11 percent and 42 percent, respectively. Our study emphasizes how the provision of high-end transportation technologies can increase urban gentrification and exacerbate inequality.
主讲人介绍：
Sumit Agarwal is Low Tuck Kwong Distinguished Professor of Finance at the Business School and a Professor of Economics and Real Estate at the National University of Singapore (NUS). He is the Managing Director of Sustainable and Green Finance Institute at NUS. He is also the President of Asian Bureau of Finance and Economic Research.
In the past, he has held positions as a Professor of Finance at the Business School, Georgetown University. Before that he was a senior financial economist in the research department at the Federal Reserve Bank of Chicago and prior to joining the Chicago Fed, he was a senior vice president and credit risk management executive in the Small Business Risk Solutions Group of Bank of America.
Sumit’s research interests include issues relating to household sustainablity, financial institutions, household finance, behavioral finance, and real estate markets. He has published over one hundred and twenty five research articles in economics and finance journals among others. Additionally, he has co-written six books titled Why We Feel Blue When the Air is Grey, Kiasunomics 3, Introduction to Household Financial Management, Kiasunomics 2, Household Finance: A Functional Approach, and Kiasunomics, and also co-edited two collected volumes titled Impact of COVID-19 on Asian Economies and Policy Responses, and Household Credit Usage: Personal Debt and Mortgages.
He writes regular op-ed's in the Straits Times and is featured on various media outlets like the CNA, BBC, CNBC, and Fox on issues relating to finance, banking, and real estate markets. Sumit’s research is widely cited in leading newspapers and magazines like the Wall Street Journal, The New York Times, The Economist, and the U.S Presidents Report to Congress. He also runs a Podcast on household financial decision making called Kiasunomics.
