Regional Housing Supply Elasticity in Spatial Equilibrium Growth Analysis

Dan Rickman and Hongbo Wang

No 1509, Economics Working Paper Series from Oklahoma State University, Department of Economics and Legal Studies in Business

Abstract: The spatial equilibrium growth model of Glaeser and Tobio (2008) is built upon the traditional static Rosen-Roback spatial equilibrium model. A distinguishing feature is the addition of a regionally-varying elasticity of housing supply, which was found empirically for the U.S. in a number of studies. Applications of the framework have been limited. But it is sufficiently flexible to be used in a wide variety of settings. Numerous policies and site characteristics of areas have the potential to simultaneously influence household amenity demand, firm productivity and elasticity of housing supply. The spatial equilibrium growth model not only ascertains the growth effects of policies and site characteristics, but it also assesses the channels through which they affect regional growth.

Keywords: regional housing supply; spatial equilibrium; regional growth; urban economics; economic geography (search for similar items in EconPapers)
JEL-codes: R00 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2015-06
New Economics Papers: this item is included in nep-geo and nep-ure
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Working Paper: Regional Housing Supply Elasticity in Spatial Equilibrium Growth Analysis (2015)
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