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...

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...

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...

We estimate the effect of city land use regulation on housing prices in the presence of regulatory spillover. The total effect of regulation is decomposed into a direct effect in which regulation lowers housing productivity and an indirect effect in which household location choice mitigates the...

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...

As regions across the United States are experiencing high and rising house prices, inclusionary zoning is increasing in popularity as a tool to increase the availability of affordable housing for households making less than their region's median income. However, when inclusionary zoning requires...

Larger cities typically give rise to two opposite effects: tougher competition among firms and higher production costs. Using an urban model with substitutability of production factors and pro-competitive effects, I study the response of the market outcome to city size, land-use regulations, and...

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...

This paper presents the results of an empirical study of the determinants of non-residential real estate values in Los Angeles County. The data base consists of 13, 370 property transactions from 1996 to 2005. Separate spatial econometric models are developed for industrial, commercial, retail...