Replication data for: The Economic Implications of Housing Supply
Principal Investigator(s): View help for Principal Investigator(s) Edward Glaeser; Joseph Gyourko
Version: View help for Version V1
Name | File Type | Size | Last Modified |
---|---|---|---|
Gyourko_dataset_complete | 12/03/2019 10:26:AM | ||
LICENSE.txt | text/plain | 14.6 KB | 12/03/2019 05:26:AM |
Project Citation:
Project Description
Summary:
View help for Summary
In this essay, we review the basic economics of housing supply and the functioning of US housing markets to better understand the distribution of home prices, household
wealth, and the spatial distribution of people across markets. We employ a cost-based approach to gauge whether a housing market is delivering appropriately priced units.
Specifically, we investigate whether market prices (roughly) equal the costs of producing the housing unit. If so, the market is well-functioning in the sense that it efficiently
delivers housing units at their production cost. The gap between price and production cost can be understood as a regulatory tax. The available evidence suggests, but does
not definitively prove, that the implicit tax on development created by housing regulations is higher in many areas than any reasonable negative externalities associated
with new construction. We discuss two main effects of developments in housing prices: on patterns of household wealth and on the incentives for relocation to high-wage,
high-productivity areas. Finally, we turn to policy implications.
Scope of Project
JEL Classification:
View help for JEL Classification
D14 Household Saving; Personal Finance
R21 Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
R31 Housing Supply and Markets
D14 Household Saving; Personal Finance
R21 Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
R31 Housing Supply and Markets
Related Publications
Published Versions
Report a Problem
Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.
This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.