Details about Joseph Gyourko

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Workplace:	Real Estate Department, Wharton School of Business, University of Pennsylvania, (more information at EDIRC)

Access statistics for papers by Joseph Gyourko.

Last updated 2019-10-17. Update your information in the RePEc Author Service.

Short-id: pgy3

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Working Papers

2021

1. The Impact of Local Residential Land Use Restrictions on Land Values Across and Within Single Family Housing Markets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)

2019

2. The Local Residential Land Use Regulatory Environment Across U.S. Housing Markets: Evidence from a New Wharton Index
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)

2017

3. The Economic Implications of Housing Supply
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
   See also Journal Article in Journal of Economic Perspectives (2018)

2015

4. A New Look at the U.S. Foreclosure Crisis: Panel Data Evidence of Prime and Subprime Borrowers from 1997 to 2012
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (36)
5. Evaluating the Risk of Chinese Housing Markets: What We Know and What We Need to Know
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
   See also Journal Article in China Economic Review (2016)

2014

6. Regulation and Housing Supply
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
   See also Chapter (2015)

2013

7. Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
8. Unemloyment and Unobserved Credit Risk in the FHA Single Family Mortgage Insurance Fund
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)

2012

9. Land and House Price Measurement in China
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (34)

2011

10. Anatomy of the Beginning of the Housing Boom: U.S. Neighborhoods and Metropolitan Areas, 1993-2009
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (62)
11. Does Gender Matter for Political Leadership? The Case of U.S. Mayors
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (36)
    See also Journal Article in Journal of Public Economics (2014)
12. Housing Busts and Household Mobility: An Update
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    Also in Staff Reports, Federal Reserve Bank of New York (2011) View citations (24)
    See also Journal Article in Economic Policy Review (2012)
13. Housing Dynamics
    2011 Meeting Papers, Society for Economic Dynamics View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (44)

2010

14. Can Cheap Credit Explain the Housing Boom?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (121)
    See also Chapter (2012)
15. Evaluating Conditions in Major Chinese Housing Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (34)
    See also Journal Article in Regional Science and Urban Economics (2012)

2009

16. Understanding Commercial Real Estate: Just How Different from Housing Is It?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (45)

2008

17. Arbitrage in Housing Markets
    Working Paper Series, Harvard University, John F. Kennedy School of Government View citations (4)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (67)
18. Housing Busts and Household Mobility
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (29)
    Also in Staff Reports, Federal Reserve Bank of New York (2008) View citations (19)
    See also Journal Article in Journal of Urban Economics (2010)
19. Housing Supply and Housing Bubbles
    Scholarly Articles, Harvard University Department of Economics View citations (456)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (455)
    See also Journal Article in Journal of Urban Economics (2008)

2007

20. Do Political Parties Matter? Evidence from U.S. Cities
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (35)
    See also Journal Article in The Quarterly Journal of Economics (2009)

2006

21. Superstar Cities
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (67)
    See also Journal Article in American Economic Journal: Economic Policy (2013)

2005

22. Urban Growth and Housing Supply
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (43)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2005) View citations (36)
    See also Journal Article in Journal of Economic Geography (2006)
23. Why Have Housing Prices Gone Up?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (278)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2005) View citations (191)
    See also Journal Article in American Economic Review (2005)

2004

24. The (Un)changing Geographical Distribution of Housing Tax Benefits: 1980 to 2000
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    See also Chapter (2004)

2003

25. Urban decline and housing reinvestment: the role of construction costs and the supply side
    Working Papers, Federal Reserve Bank of Philadelphia View citations (7)
26. Using home maintenance and repairs to smooth variable earnings
    Staff Reports, Federal Reserve Bank of New York View citations (5)
    See also Journal Article in The Review of Economics and Statistics (2006)
27. Why is Manhattan So Expensive? Regulation and the Rise in House Prices
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (38)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (25)

2002

28. The Impact of Zoning on Housing Affordability
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (88)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2002) View citations (61)
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania

2001

29. The Spatial Distribution of Housing-Related Tax Benefits in the United States
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
30. Urban Decline and Durable Housing
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (55)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2001) View citations (31)
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (17)
    See also Journal Article in Journal of Political Economy (2005)

2000

31. Capitalization of federal taxes, the relative price of housing, and urban form: density and sorting effects
    Working Papers, Federal Reserve Bank of Philadelphia View citations (3)
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
    See also Journal Article in Regional Science and Urban Economics (2002)
32. The Asset Price Incidence of Capital Gains Taxes: Evidence from the Taxpayer Relief Act of 1997 and Publicly-Traded Real Estate Firms
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (4)
    See also Journal Article in Journal of Public Economics (2004)

1999

33. 103 Real Estate Ownership by Non-Real Estate Firms: The Impact on Firm Returns
    Working Paper, USC Lusk Center for Real Estate View citations (6)
34. The Intra-Metropolitan Area Distribution of GSE Mortgage Purchases Made in Support of Low-income Related Goals
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (1)

1998

35. State and Local Fiscal Conditions, Public Wealth and Local Land Values
    ERES, European Real Estate Society (ERES)
36. The tax treatment of housing: its effects on bounded and unbounded communities
    Working Papers, Federal Reserve Bank of Philadelphia View citations (4)

1997

37. Does the U.S. tax treatment of housing promote suburbanization and central city decline?
    Working Papers, Federal Reserve Bank of Philadelphia View citations (7)

1992

38. Leasing as a lottery: implications for rational building surges and increasing vacancies
    Working Papers, Federal Reserve Bank of Philadelphia
    See also Journal Article in Real Estate Economics (1993)

1990

39. Local Market and National Components in House Price Appreciation
    University of California at Los Angeles, Anderson Graduate School of Management, Anderson Graduate School of Management, UCLA
    Also in Working Papers, Federal Reserve Bank of Philadelphia (1990)
    See also Journal Article in Journal of Urban Economics (1992)
40. THE RISK AND RETURN CHARACTERISTICS OF STOCK MARKET-BASED REAL ESTATE INDEXES AND THEIR RELATION TO APPRAISAL- BASED RETURNS
    Weiss Center Working Papers, Wharton School - Weiss Center for International Financial Research View citations (2)
    Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (2)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (2)

1989

41. Public Sector Bargaining and the Local Budgetary Process
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)

1986

42. An Analysis of Public and Private Sector Wages Allowing for Endogenous Choices of Both Government and Union Status
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article in Journal of Labor Economics (1988)
43. On the Political Economy of Land Value Capitalization and Local Public Sector Rent-Seeking in a Tiebout Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article in Journal of Urban Economics (1989)
44. The Importance of Local Fiscal Conditions in Analyzing Local Labor Markets
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of Political Economy (1989)

Undated

45. A Look at Real Housing Prices and Incomes: Some Implications for Housing Affordability and Quality
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (3)
    See also Journal Article in Economic Policy Review (1999)
46. Access to Homeownership in the United States: The Impact of Changing Perspectives on Constraints to Tenure Choice
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
47. Financing New Urbanism
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (2)
48. Financing New Urbanism Projects
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
49. Real Estate Ownership by Non-Real Estate Firms: An Estimate of the Impact on Firm Returns
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (4)
50. Systematic Risk and Diversification in the Equity REIT Market
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (4)
    See also Journal Article in Real Estate Economics (1996)
51. The Impact of New Information Technologies on the Commercial Brokerage Industry: Phase I: What Is at Stake? Estimation of the Revenue Flow to the Office and Industrial Brokerage Sectors
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
52. The Impact of New Information Technologies on the Commercial Brokerage Industry: Phase II: E-Business Initiatives in the Commercial Brokerage and Listing Space
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
53. The Impact of New Information Technologies on the Commercial Brokerage Industry: Phase III: What Does New Information Technology Make Possible and Under What Conditions Will Changes Occur?
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
54. The Price Elasticity of the Demand for Residential Land
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (9)
55. The REIT Vehicle: Its Value Today and in the Future
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
56. The Spatial Distribution of Affordable Home Loan Purchases in Major Metropolitan Areas: Documentation and Analysis
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
    See also Journal Article in Regional Science and Urban Economics (2002)
57. The Spatial Distribution of Housing-Related Tax Benefits in the United States [2.6MB PDF]
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
58. The Tax Treatment of Housing and Its Effects on Bounded and Unbounded Communities
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
59. What Does the Stock Market Tell Us About Real Estate Returns? (Revised: 11-92)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (3)
60. What Does the Stock Market Tell Us About Real Estate Returns? (Revision of 18-91) (Reprint 030)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (106)
61. Why Does Anybody Still Live Here?
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania

Journal Articles

2019

1. Singapore's cooling measures and its housing market
   Journal of Housing Economics, 2019, 45, (C), - View citations (3)

2018

2. The Economic Implications of Housing Supply
   Journal of Economic Perspectives, 2018, 32, (1), 3-30 View citations (129)
   See also Working Paper (2017)
3. The role of price spillovers in the American housing boom
   Journal of Urban Economics, 2018, 108, (C), 72-84 View citations (20)

2016

4. Evaluating the risk of Chinese housing markets: What we know and what we need to know
   China Economic Review, 2016, 39, (C), 91-114 View citations (93)
   See also Working Paper (2015)

2015

5. Real estate collateral value and investment: The case of China
   Journal of Urban Economics, 2015, 86, (C), 43-53 View citations (50)

2014

6. Does gender matter for political leadership? The case of U.S. mayors
   Journal of Public Economics, 2014, 112, (C), 24-39 View citations (120)
   See also Working Paper (2011)
7. Housing dynamics: An urban approach
   Journal of Urban Economics, 2014, 81, (C), 45-56 View citations (78)
8. Reconciling theory and empirics on the role of unemployment in mortgage default
   Journal of Urban Economics, 2014, 80, (C), 87-96 View citations (43)

2013

9. Superstar Cities
   American Economic Journal: Economic Policy, 2013, 5, (4), 167-99 View citations (170)
   See also Working Paper (2006)

2012

10. Evaluating conditions in major Chinese housing markets
    Regional Science and Urban Economics, 2012, 42, (3), 531-543 View citations (160)
    See also Working Paper (2010)
11. Heterogeneity in Neighborhood-Level Price Growth in the United States, 1993-2009
    American Economic Review, 2012, 102, (3), 134-40 View citations (31)
12. Housing busts and household mobility: an update
    Economic Policy Review, 2012, 18, (Nov), 1-15 View citations (21)
    See also Working Paper (2011)

2010

13. Housing busts and household mobility
    Journal of Urban Economics, 2010, 68, (1), 34-45 View citations (195)
    See also Working Paper (2008)

2009

14. Do Political Parties Matter? Evidence from U.S. Cities
    The Quarterly Journal of Economics, 2009, 124, (1), 399-422 View citations (241)
    See also Working Paper (2007)
15. Housing Supply
    Annual Review of Economics, 2009, 1, (1), 295-318 View citations (30)

2008

16. A New Measure of the Local Regulatory Environment for Housing Markets: The Wharton Residential Land Use Regulatory Index
    Urban Studies, 2008, 45, (3), 693-729 View citations (283)
17. Housing supply and housing bubbles
    Journal of Urban Economics, 2008, 64, (2), 198-217 View citations (458)
    See also Working Paper (2008)
18. The Case against Housing Price Supports
    The Economists' Voice, 2008, 5, (6), 1-8 View citations (5)

2006

19. CONSTRUCTION COSTS AND THE SUPPLY OF HOUSING STRUCTURE*
    Journal of Regional Science, 2006, 46, (4), 661-680 View citations (83)
20. Urban growth and housing supply
    Journal of Economic Geography, 2006, 6, (1), 71-89 View citations (195)
    See also Working Paper (2005)
21. Using Home Maintenance and Repairs to Smooth Variable Earnings
    The Review of Economics and Statistics, 2006, 88, (4), 736-747 View citations (19)
    See also Working Paper (2003)

2005

22. Urban Decline and Durable Housing
    Journal of Political Economy, 2005, 113, (2), 345-375 View citations (468)
    See also Working Paper (2001)
23. Why Have Housing Prices Gone Up?
    American Economic Review, 2005, 95, (2), 329-333 View citations (284)
    See also Working Paper (2005)
24. Why Is Manhattan So Expensive? Regulation and the Rise in Housing Prices
    Journal of Law and Economics, 2005, 48, (2), 331-69 View citations (280)

2004

25. Reinvestment in the housing stock: the role of construction costs and the supply side
    Journal of Urban Economics, 2004, 55, (2), 238-256 View citations (47)
26. The asset price incidence of capital gains taxes: evidence from the Taxpayer Relief Act of 1997 and publicly-traded real estate firms
    Journal of Public Economics, 2004, 88, (7-8), 1543-1565 View citations (10)
    See also Working Paper (2000)

2003

27. The Spatial Distribution of Housing‐Related Ordinary Income Tax Benefits
    Real Estate Economics, 2003, 31, (4), 527-575 View citations (28)
28. The impact of building restrictions on housing affordability
    Economic Policy Review, 2003, (Jun), 21-39 View citations (141)

2002

29. Capitalization of federal taxes, the relative price of housing, and urban form: density and sorting effects
    Regional Science and Urban Economics, 2002, 32, (6), 673-690 View citations (13)
    See also Working Paper (2000)
30. Spatial distribution of affordable home loan purchases in major metropolitan areas: documentation and analysis
    Regional Science and Urban Economics, 2002, 32, (5), 549-589 View citations (2)
    See also Working Paper

2000

31. Changes in the Scale and Size Distribution of US Metropolitan Areas during the Twentieth Century
    Urban Studies, 2000, 37, (7), 1063-1077 View citations (5)

1999

32. A look at real housing prices and incomes: some implications for housing affordability and quality
    Economic Policy Review, 1999, 5, (Sep), 63-77 View citations (7)
    See also Working Paper
33. Analyzing the Relationships among Race, Wealth, and Home Ownership in America
    Journal of Housing Economics, 1999, 8, (2), 63-89 View citations (43)

1998

34. Evaluating the Costs of Increased Lending in Low and Negative Growth Local Housing Markets
    Real Estate Economics, 1998, 26, (2), 207-234 View citations (3)
35. The Predictability of Equity REIT Returns
    Journal of Real Estate Research, 1998, 16, (3), 251-268 View citations (40)

1996

36. Analysis of the Changing Influences on Traditional Households' Ownership Patterns
    Journal of Urban Economics, 1996, 39, (3), 318-341 View citations (67)
37. Systematic Risk and Diversification in the Equity REIT Market
    Real Estate Economics, 1996, 24, (4), 493-515 View citations (33)
    See also Working Paper

1993

38. Leasing as a Lottery: Implications for Rational Building Surges and Increasing Vacancies
    Real Estate Economics, 1993, 21, (1), 83-106 View citations (3)
    See also Working Paper (1992)

1992

39. Local market and national components in house price appreciation
    Journal of Urban Economics, 1992, 32, (1), 52-69 View citations (12)
    See also Working Paper (1990)
40. What Does the Stock Market Tell Us About Real Estate Returns?
    Real Estate Economics, 1992, 20, (3), 457-485 View citations (147)

1991

41. How accurate are quality-of-life rankings across cities?
    Business Review, 1991, (Mar), 3-14 View citations (3)
42. Impact fees, exclusionary zoning, and the density of new development
    Journal of Urban Economics, 1991, 30, (2), 242-256 View citations (13)
43. The Structure of Local Public Finance and the Quality of Life
    Journal of Political Economy, 1991, 99, (4), 774-806 View citations (270)

1990

44. Analysing the Risk of Income-producing Real Estate
    Urban Studies, 1990, 27, (4), 497-508 View citations (1)
45. Controlling and Assisting Privately Rented Housing
    Urban Studies, 1990, 27, (6), 785-793 View citations (1)
46. Measurement problems in quantifying the distributional effects of subsidy programs
    Journal of Urban Economics, 1990, 28, (1), 19-33 View citations (5)
47. Rent controls and rental housing quality: A note on the effects of New York City's old controls
    Journal of Urban Economics, 1990, 27, (3), 398-409 View citations (29)

1989

48. Equity and efficiency aspects of rent control: An empirical study of New York City
    Journal of Urban Economics, 1989, 26, (1), 54-74 View citations (64)
49. Housing wealth, housing finance, and tenure in Korea
    Regional Science and Urban Economics, 1989, 19, (2), 211-234 View citations (7)
50. Local public sector rent-seeking and its impact on local land values
    Regional Science and Urban Economics, 1989, 19, (3), 493-516 View citations (21)
51. On the political economy of land value capitalization and local public sector rent seeking in a Tiebout model
    Journal of Urban Economics, 1989, 26, (2), 152-173 View citations (7)
    See also Working Paper (1986)
52. The Importance of Local Fiscal Conditions in Analyzing Local Labor Markets
    Journal of Political Economy, 1989, 97, (5), 1208-31 View citations (117)
    See also Working Paper (1986)

1988

53. An Analysis of Public- and Private-Sector Wages Allowing for Endogenous Choices of Both Government and Union Status
    Journal of Labor Economics, 1988, 6, (2), 229-53 View citations (75)
    See also Working Paper (1986)

1987

54. Effects of local tax structures on the factor intensity composition of manufacturing activity across cities
    Journal of Urban Economics, 1987, 22, (2), 151-164 View citations (5)

Books

2008

1. Rethinking Federal Housing Policy
   Books, American Enterprise Institute View citations (32)

Chapters

2015

1. Regulation and Housing Supply
   Elsevier View citations (94)
   See also Working Paper (2014)

2012

2. Can Cheap Credit Explain the Housing Boom?
   A chapter in Housing and the Financial Crisis, 2012, pp 301-359 View citations (94)
   See also Working Paper (2010)
3. Discussion of Developing Housing Finance Systems
   A chapter in Property Markets and Financial Stability, 2012
4. Land and Housing Price Measurement in China
   A chapter in Property Markets and Financial Stability, 2012 View citations (7)

2010

5. Dispersion in House Price and Income Growth across Markets: Facts and Theories
   A chapter in Agglomeration Economics, 2010, pp 67-104 View citations (6)

2004

6. The (Un)changing Geographical Distribution of Housing Tax Benefits: 1980–2000
   A chapter in Tax Policy and the Economy, Volume 18, 2004, pp 175-208 View citations (6)
   See also Working Paper (2004)

1999

7. Quality of life and environmental comparisons
   Chapter 37 in Handbook of Regional and Urban Economics, 1999, vol. 3, pp 1413-1454 View citations (131)