Local economic conditions and the nature of new housing supply
| Autor: | Christian A. L. Hilber, Wouter Vermeulen, Jan Rouwendal |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
Economics and Econometrics
Labour economics HT Communities. Classes. Races Download media_common.quotation_subject Local economic conditions open monocentric city model land conversion housing supply housing type housing consumption land use regulation migration Local economic conditions open monocentric city model land conversion housing supply housing type housing consumption land use regulation migration Geography Planning and Development Distribution (economics) Globalization Rlab jel:R21 0502 economics and business Economics 050207 economics 050205 econometrics computer.programming_language media_common Poverty Land use business.industry 05 social sciences Metropolitan area SDG 11 - Sustainable Cities and Communities HD Industries. Land use. Labor jel:R31 Unemployment jel:R52 jel:R11 business computer |
| Zdroj: | Hilber, C A L, Rouwendal, J & Vermeulen, W 2021, ' Local economic conditions and the nature of new housing supply ', Journal of Economic Geography, vol. 21, no. 3, pp. 339-366 . https://doi.org/10.1093/jeg/lbaa015 |
| DOI: | 10.1093/jeg/lbaa015 |
| Popis: | 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 city's 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. |
| Databáze: | OpenAIRE |
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