Land Values and Housing Rents in Japan (Proposed Running Head - Land and Housing Prices in Japan
Louis Rose
No 198911, Working Papers from University of Hawaii at Manoa, Department of Economics
Abstract:
An explanation of land values and housing rents is central to our understanding of Japanese urban land use allocation, housing production and consumption, and wealth distribution. This paper describes and systematically explains some of the observed intertemporal, intercity, and intracity variation in these prices. It fits theoretically based reduced form equations to intertemporal data over 35 years, intercity data across 27 major cities, and intracity data in the three largest metropolitan areas. Explanatory variables are population, income, the interest rate, the inflation rate, urban land supply, and distance from the city center.
Date: 1989
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