Arbeitspapier
Local Economic Conditions and the Nature of New Housing Supply
We present a modified open monocentric city model that assumes that land is available for conversion into new housing throughout the city. The model predicts that positive local income shocks (i) increase the citys share of multi-family housing in new construction and (ii) lead to the construction of smaller units. We exploit the metro area samples of the American Housing Survey from 1984 to 2004 and find support for both predictions. We confirm that the adjustment process is driven by migration and is hindered by strict local land use control. Our findings imply that tight regulation may hamper metro area level labor market adjustment to positive economic shocks not only through limits on the quantity of newly supplied units but also by constraining their type to single-family houses and larger units that may be less suitable for would-be-migrants.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 14-120/VIII
- Klassifikation
-
Wirtschaft
Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
Housing Supply and Markets
Regional Government Analysis: Land Use and Other Regulations
- Thema
-
Local economic conditions
open monocentric city model
land conversion
housing supply
housing type
housing consumption
land use regulation
migration
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hilber, Christian A.L.
Rouwendal, Jan
Vermeulen, Wouter
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Hilber, Christian A.L.
- Rouwendal, Jan
- Vermeulen, Wouter
- Tinbergen Institute
Entstanden
- 2014
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