Previous empirical investigations provide evidence of substantial regional variation in the supply elasticity of … housing, and show that the elasticity and its variation across cities within the U.S. are significantly influenced by … indicating that the supply elasticity is largely a local phenomenon, i.e., dependent mainly on city specific factors rather than …

market using data from Finland. While the previous related literature studies the reactions of sales volume and prices to an …-error correction model, the response of prices to demand shocks is found to be substantially slower than that of sales. The effect of a …