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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