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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/25783
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| Title: | | Supply constraints and housing prices  |
| Authors: | | Aura, Saku Davidoff, Thomas |
| Issue Date: | | 2006 |
| Series/Report no.: | | CESifo working paper 1738 |
| Abstract: | | This paper analyzes the effects of land use constraints on housing prices. We provide a new framework for evaluating policy when mobility across regions is allowed but limited. A key result is that loosening regulatory constraints within individual regions would have little effect on prices for plausible parameterizations. For example, we show reasonable conditions under which, even if every building in Manhattan were 100 stories tall, prices would fall by less than 15 percent. |
| JEL: | | R21 R14 R38 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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