published in: Journal of Urban Economics, 2003, 54 (1), 129-156
The aim of this paper is to provide a new mechanism for the spatial mismatch hypothesis.
Spatial mismatch can here be the result of optimizing behavior on the part of the labor market
participants. In particular, the unemployed can choose low amounts of search and long-term
unemployment if they reside far away from jobs. They choose voluntary not to relocate close
to jobs because the short-run gains (low land rent and large housing consumption) are big
enough compared to the long-run gains of residing near jobs (higher probability of finding a
job).
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