Essays on city size distribution and real estate bubbles

This is a dissertation about urban systems; within this broad subject I tackle three issues, one that focuses on an observed inter-city relationship and two that focus on an intra-city phenomenon. In Chapter II I adapt a model of random emergence of economic opportunities from the firm growth literature to the urban dynamics situation and present several predictions for urban system dynamics. One of these predictions is that the older the city the larger and more diversified it is going to be on average, which I proceed to verify empirically using two distinct datasets. In Chapter III I analyze the Residential Real Estate Bubble that took place in Miami-Dade County from 1999 to 2006. I adopt a Spatial-Economic model developed for the Paris Bubble episode of 1984–1993 and formulate an innovative test of the results in terms of speculative intensity on the basis of proxies of investor activity available in my dataset. My results support the idea that the best or more expensive areas are also where the greatest speculative activity takes place and where the rapid increase in prices begins. The most significant departure from previous studies that emerges in my results is the absence of a wider gap between high priced areas and low priced areas in the peak year. I develop a measure of dispersion in value among areas and contrast the Miami-Dade and Paris episodes. In Chapter IV I analyze the impact on tax equity of a Florida tax-limiting legislation known as Save Our Homes. I first compare homesteaded and non-homesteaded properties, and second, look within the subset of homesteaded properties. I find that non-homesteaded properties increase their share of taxes paid relative to homesteaded properties during an up market, but that this is reversed during a down market. For the subset of homesteaded properties I find that the impact on tax equity of SOH will depend on differential growth rates among higher and lower valued homes, but during times of rapid home price appreciation, in a scenario of no differential growth rates in property values, SOH increases progressivity relative to the prior system.

Fluorescence Characteristics of Size-Fractionated Dissolved Organic Matter: Implications for a Molecular Assembly Based Structure?

Surface freshwater samples from Everglades National Park, Florida, were used to investigate the size distributions of natural dissolved organic matter (DOM) and associated fluorescence characteristics along the molecular weight continuum. Samples were fractionated using size exclusion chromatography (SEC) and characterized by spectroscopic means, in particular Excitation-Emission Matrix fluorescence modeled with parallel factor analysis (EEM-PARAFAC). Most of the eight components obtained from PARAFAC modeling were broadly distributed across the DOM molecular weight range, and the optical properties of the eight size fractions for all samples studied were quite consistent among each other. Humic-like components presented a similar distribution in all the samples, with enrichment in the middle molecular weight range. Some variability in the relative distribution of the different humic-like components was observed among the different size fractions and among samples. The protein like fluorescence, although also generally present in all fractions, was more variable but generally enriched in the highest and lowest molecular weight fractions. These observations are in agreement with the hypothesis of a supramolecular structure for DOM, and suggest that DOM fluorescence characteristics may be controlled by molecular assemblies with similar optical properties, distributed along the molecular weight continuum. This study highlights the importance of studying the molecular structure of DOM on a molecular size distribution perspective, which may have important implications in understanding the environmental dynamics such materials.