Urban Growth and Housing Supply

34 Pages Posted: 5 Feb 2005

See all articles by Edward L. Glaeser

Edward L. Glaeser

Harvard University - Department of Economics; Brookings Institution; National Bureau of Economic Research (NBER)

Joseph Gyourko

University of Pennsylvania - Real Estate Department; National Bureau of Economic Research (NBER)

Raven E. Saks

U.S. Federal Reserve - Division of Research and Statistics

Multiple version iconThere are 3 versions of this paper

Date Written: February 2005

Abstract

Cities are physical structures, but the modern literature on urban economic development rarely acknowledges that fact. The elasticity of housing supply helps determine the extent to which increases in productivity will create bigger cities or just higher paid workers and more expensive homes. In this paper, we present a simple model that provides a framework for doing empirical work that integrates the heterogeneity of housing supply into urban development. Empirical analysis yields results consistent with the implications of the model that differences in the nature of house supply across space are not only responsible for higher housing prices, but also affect how cities respond to increases in productivity.

Suggested Citation

Glaeser, Edward L. and Gyourko, Joseph E. and Saks, Raven E., Urban Growth and Housing Supply (February 2005). Harvard Institute of Economic Research Discussion Paper No. 2062. Available at SSRN: https://ssrn.com/abstract=658343 or http://dx.doi.org/10.2139/ssrn.658343

Edward L. Glaeser (Contact Author)

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Joseph E. Gyourko

University of Pennsylvania - Real Estate Department ( email )

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National Bureau of Economic Research (NBER)

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Raven E. Saks

U.S. Federal Reserve - Division of Research and Statistics ( email )

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