Almost all urban land use controls reduce permitted densities. This article analyzes restrictions on residential densities in a conventional model of density-distance functions. Density controls force development to extend farther than in competitive equilibrium, thus increasing commuting...

Several economists have concluded that housing investment has been excessive relative to industrial investment in the U.S. Most blame provisions of the federal income tax that favor owner-occupied housing.This paper poses the question within a two-sector neoclassical growth model which permits...

This paper analyzes 1990 office asking rents in the Chicago metropolitan area. It carefully specifies a measure of the present value of a lease, taking account of important properties of rent offers. This present value is the dependent variable in the statistical analysis. The sample data...