We investigate theoretically and empirically how urban residence contributes to interpersonal differentials in wealth accumulation trajectories through its interrelated influences on labour and housing market outcomes. On the basis of Norwegian register data, we estimate models of one's position in various national wealth distributions over the 2010–2018 period, employing fixed-effects to reduce geographic selection bias and obtain plausibly causal estimates of the impact of moving between levels of the rural–urban hierarchy. We find that residing in a more urbanized area for a longer duration is strongly related to one's rank in the net wealth, housing wealth and financial wealth distributions. Differentials in net wealth growth among levels of urbanization are most dramatic for younger and higher-educated individuals, with further advantages for those who settle in Oslo. Structural equation modelling reveals that these plausibly causal effects arise primarily through gains in housing equity and (to a lesser degree) in earnings and capital incomes, confirming our conceptual model.

中文翻译：

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城市居住是财富差异的驱动因素：来自挪威的新证据

我们从理论上和实证上研究了城市居住如何通过其对劳动力和住房市场结果的相互关联的影响而导致财富积累轨迹中的人际差异。根据挪威登记数据，我们估计了 2010 年至 2018 年期间一个人在各种国民财富分配中的地位模型，利用固定效应来减少地理选择偏差，并获得对农村不同层次之间流动影响的合理因果估计。 ——城市等级制度。我们发现，在城市化程度较高的地区居住时间较长与一个人的净财富、住房财富和金融财富分布的排名密切相关。城市化水平之间的净财富增长差异对于年轻人和受过高等教育的个人来说最为显着，对于那些定居在奥斯陆的人来说，这更具优势。结构方程模型表明，这些看似合理的因果效应主要是通过住房净值的增长以及（较小程度）收入和资本收入的增长而产生的，这证实了我们的概念模型。