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Much has been written identifying property price effects of historic preservation policies. Little attention has been paid to the possible policy endogeneity in hedonic price models. This paper outlines a general case of land use regulation in the presence of externalities and then demonstrates...
Persistent link: https://www.econbiz.de/10003830763
Much has been written identifying property price effects of historic preservation policies. Little attention has been paid to the possible policy endogeneity in hedonic price models. This paper outlines a general case of land use regulation in the presence of externalities and then demonstrates...
Persistent link: https://www.econbiz.de/10010269350
Persistent link: https://www.econbiz.de/10011439770
Various researchers have explored the adverse effects of walled buildings on human health. However, few of them have examined the relationship between walled buildings and private housing estates in Hong Kong. This study endeavors to fill the research gap by exploring the connections among...
Persistent link: https://www.econbiz.de/10012918894
This Essay attempts to determine the correct regulatory takings compensation policy given the general doctrinal framework in other bodies of American law. In particular, it addresses the following questions. First, given a compensation requirement for eminent domain, is it sensible to interpret...
Persistent link: https://www.econbiz.de/10014213547
Spatial equilibrium in housing markets implies that distant factors are correlated with prices in specific (focal) neighborhoods through market mechanisms. Using this logic, we develop a novel approach for handling price endogeneity in a reduced-form land use model. We combine a control function...
Persistent link: https://www.econbiz.de/10013005048
Larger cities typically give rise to two effects working in opposite directions: tougher competition among firms and higher production costs. Using an urban model with substitutability of production factors and pro-competitive effects, we study how market outcome responds to city population...
Persistent link: https://www.econbiz.de/10012920652
The purpose of this chapter is to survey recent research on housing markets and policy in what used to be called the “second” and “third” worlds. We adopt the labels “transition” economies to refer to countries as disparate as Russia and Vietnam, and “developing” to refer to...
Persistent link: https://www.econbiz.de/10014023955
Glaeser and Gyourko's (2003) (henceforth G&G's) method of measuring the gap between marginal and average land prices of housing lots has become a popular way of demonstrating the degree to which planning controls, or “regulatory taxes”, increase residential land prices. This has led...
Persistent link: https://www.econbiz.de/10012893615
This paper investigates how a development moratorium affects choices of development timing and land values in a framework where both the value of developed property evolves stochastically and the development costs are fully irreversible. We assume that a regulator initially announces that land...
Persistent link: https://www.econbiz.de/10013157623