This paper examines the effects of quantity restrictions on residential property prices in the presence of neighborhood externalities. A Brigham Young University policy limiting students' location choices provides a natural experiment for studying the externality and quantity restriction effects...

Using data on a large sample of land transactions, this paper develops quarterly national land price indices for residential, commercial, and industrial land use categories over the twenty year period from 1991 to 2009. We find significant differences in variability across land uses, with...