Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/57924 
Autor:innen: 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
CAWM Discussion Paper No. 57
Verlag: 
Westfälische Wilhelms-Universität Münster, Centrum für Angewandte Wirtschaftsforschung (CAWM), Münster
Zusammenfassung: 
This paper employs panel data on 413 German counties and cities from 2004 to 2009 to investigate the supply of new single-family housing in local housing markets. New local housing supply is measured by the annual number of construction permits in relation to the existing single-family housing stock. This supply indicator is econometrically related to existing home prices and new housing development costs, which include the costs of housing construction and vacant land in a given location. The results suggest that both higher prices for existing homes and recent increases in development costs are positively associated with local single-family home permit rates. Instead, higher levels of development costs turn out to dampen construction activity. The average local price elasticity of new single-family home supply is considerably less than one, with surprising differences across the urban hierarchy.
Schlagwörter: 
new housing supply
local housing markets
panel data
JEL: 
R12
R31
C31
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.01 MB





Publikationen in EconStor sind urheberrechtlich geschützt.