skewness in house prices and incomes are related and can be explained, at least in part, by inelastic supply of land in some … attractive locations combined with an increasing number of high-income households nationally. Scarce land leads to a bidding …-up of land prices and a sorting of high-income families relatively more into those desirable, unique, low housing …

skewness in house prices and incomes are related and can be explained, at least in part, by inelastic supply of land in some … attractive locations combined with an increasing number of high-income households nationally. Scarce land leads to a bidding …-up of land prices and a sorting of high-income families relatively more into those desirable, unique, low housing …

skewness in house prices and incomes are related and can be explained, at least in part, by inelastic supply of land in some … attractive locations combined with an increasing number of high-income households nationally. Scarce land leads to a bidding …-up of land prices and a sorting of high-income families relatively more into those desirable, unique, low housing …

We argue that positive comovements between land prices and business investment are a driving force behind the broad … joint dynamics of land prices and business investment. -- land prices ; collateral assets ; investment ; dynamic multiplier … impact of land-price dynamics on the macroeconomy. We develop an economic mechanism that captures the comovements by …