Deng, Yongheng; Tang, Yang; Wang, Ping; Wu, Jing - 2021
extent of spatial misallocation. We first document the spatial variations of housing and land market frictions. In particular … land prices have also become more dispersed across Chinese cities. This paper intends to explore how housing and land … market frictions may affect not only the aggregate but also the spatial distribution of housing and land prices and hence the …