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Title:Supply constraints and housing prices PDF Logo
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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