side factors, and after instrumenting engineering using the Land Grant Colleges program. A one standard deviation increase …

century, but rose strongly during the second half of the 20th century. Land prices, not replacement costs, are the key to … understanding the trajectory of house prices. Rising land prices explain about 80 percent of the global house price boom that has … taken place since World War II. Higher land values have pushed up wealth-to-income ratios in recent decades …

century, but rose strongly during the second half of the 20th century. Land prices, not replacement costs, are the key to … understanding the trajectory of house prices. Rising land prices explain about 80 percent of the global house price boom that has … taken place since World War II. Higher land values have pushed up wealth-to-income ratios in recent decades. …

slowdown in the modern sector. Eventually, economic growth may cease in the long-run. We also show that land dilution from a … higher workforce may give rise to negative scale effects on GDP per capita. Finally, we investigate how the optimal land …