Daniel P McMillen
Biographic Data
| ID | 5930005 |
|---|---|
| NAME | Daniel P McMillen |
| GIVEN NAMES | Daniel P |
| FAMILY NAME | McMillen |
| SIGNATURE | MCMILLEN D P |
| AFFILIATIONS | University of Illinois Chicago |
| ORCID | 0000-0002-6332-0832 |
| VERIFIED | Yes |
| TOTAL WORKS | 38 |
| TOTAL CITATIONS | 358 |
| AUTHOR COUNT | 38 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1990 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 10 |
Effect of local government taxes and spending on the redevelopment of commercial property
We provide the first causal evidence of the effect of taxation and spending on the redevelopment of commercial property. We analyze a unique dataset of local government property tax levies to renew current expense funding for general operating purposes. Our regression discontinuity approach finds cities that vote to renew taxes and spending have more redevelopment of commercial property than cities that cut balanced-budget funding by an average o…
Urban economics issues in health economics
Tracking the pulse of a city—3D real estate price heat maps
This paper proposes the use of a semiparametric model based on a locally weighted approach that controls for dynamic agglomeration and diffusion effects in constructing localized housing price indices. Based on residential transaction records in Singapore, we create three‐dimensional interactive heat maps that allow for better measurement and visualization of spatial variations and heterogeneity in price appreciation. The heat map captures region…
Fair market rent and the distribution of rents in Los Angeles
Tall Buildings and Land Values
Despite unprecedented vertical growth in large cities, the economics of skyscrapers remain understudied. We combine data on tall buildings with a panel of land prices covering 140 years to analyze the determinants of urban heights. We provide estimates of the land price elasticity of height, the height elasticity of construction cost, and the elasticity of substitution between land and capital for tall buildings. The land price elasticity of heig…
Teardowns and Demolitions in Chicago, 2000–2014
Des modèles Probit paramétriques conditionnels sont utilisés pour estimer la probabilité qu’un permis de démolir soit délivré pour les propriétés résidentielles à Chicago pour la période 2000-2014. Cette approche est particulièrement pertinente pour cette étude, car elle permet d’estimer des coefficients différents entre les localisations, selon que la démolition soit suivie de la construction d’un nouvel immeuble ou qu’elle laisse un terrain ino…
Option value and the price of teardown properties
The Economics of Zoning
The zoning movement in the United States began in the early twentieth century. Zoning is a form of regulation of the use of land that typically is an ordinance adopted by a municipal government. The zoning ordinance includes text and a zoning map that specifies the allowable uses of all parcels of land in the municipality. As such zoning is a topic that falls within the field of the economics of regulation. This article examines some aspects of t…
Clustering of Auto Supplier Plants in the United States
A linearized logit version of Pinkse and Slade's spatial GMM estimator reduces estimation to two steps—standard logit followed by two-stage least squares. Linearization produces a model that can be estimated using large datasets. Monte Carlo experiments suggest that the linearized model accurately identifies the presence of spatial effects and is capable of producing accurate estimates of marginal effects. In an application to the location of sup…
Changes in the distribution of house prices over time
Land Values and the 1957 Comprehensive Amendment to the Chicago Zoning Ordinance
In 1957 Chicago enacted a Comprehensive Amendment to the Chicago Zoning Ordiance of 1923. In contrast to the hierarchical zoning of the 1923 ordinance, the 1957 ordinance made each zoning category exclusive and mandated the removal of non-conforming uses. This study examines land parcels at the borders between residential and non-residential (commercial or manufacturing) zones, and finds that land values in non-residential zones enjoyed a one-tim…
Teardowns and land values in the Chicago metropolitan area
The Dynamics of Intraurban Quantile House Price Indexes
Estimating price indexes for different quantiles shows how prices vary for homes that are in different stages of the filtering process. The paper describes a filtering model and its implication for the dynamic interaction of housing prices at these various stages. A time-series analysis of quantile price indexes for three municipalities near Chicago supports the predictions of the filtering model
Reaction of House Prices to a New Rapid Transit Line
This study examines the effect of the new rapid transit line from downtown Chicago to Midway Airport on single‐family house prices before and after the opening of the line. The results show that the housing market anticipated the opening of the line. House prices were being affected by proximity to the stations in the late 1980s and early 1990s—after the plans for the line were well known. The difference between the increase in the value of homes…
Airport expansions and property values
Determinants of Suburban Development Controls
In addition to land-use zoning, development controls in the suburban municipalities of metropolitan Chicago include architectural reviews, appearance regulations, historical preservation areas, enterprise zones, tax-increment financing districts, development impact fees and regulations pertaining to group homes, mobile homes, factory-assembled homes and adult uses. Results of a factor analysis imply that development control policies tend to clust…
The Aroma of Tacoma
A variant of the average derivative estimator is developed to construct an index measuring the effects of a copper smelter on house prices in Tacoma, Washington. The estimated average derivative index is smooth and has lower standard errors than regression coefficients estimated separately across discrete time periods. The dataset spans the time of initial rumors of Superfund site designation, the closing of the smelter, Superfund site designatio…
Path breaking books in regional science
The number of subcenters in large urban areas
Identifying Sub-centres Using Contiguity Matrices
This paper presents a simple algorithm for identifying sub-centres using standard properties of contiguity matrices to simplify the identification procedure. Sub-centres are identified for Atlanta, Baltimore-Washington, Boston, New York and Philadelphia. A sub-centre is defined to be a set of contiguous tracts that each have significantly positive residuals in a first-stage non-parametric regression and that together have at least 10 000 employee…
Land Values in a Newly Zoned City
The introduction of a new zoning ordinance to Chicago in 1923 offers a natural experiment that allows us to determine the effects of zoning on relative land-value growth rates. Policymakers claimed at the time that land-use zoning would raise aggregate land values by reducing negative externalities associated with mixed land use. After controlling for initial land use and the endogeneity of zoning decisions, we find that residential zoning led to…
Neighborhood house price indexes in Chicago
House price indexes are estimated for 851 census tracts in the City of Chicago using a Fourier repeat sales estimator. Locally weighted regression allows price indexes to be estimated for submarkets with small numbers of sales. Annual appreciation rates are higher between 1990 and 1996 in neighborhoods close to the city center with large minority populations, high concentrations of poverty, and many vacant homes in 1990
Nonparametric Employment Subcenter Identification
Employment Subcenters and Subsequent Real Estate Development in Suburban Chicago
Suburban Subcenters and Employment Density in Metropolitan Chicago
Nonparametric Employment Subcenter Identification
Suburban Subcenters and Employment Density in Metropolitan Chicago
The number of subcenters in large urban areas
One Hundred Fifty Years of Land Values in Chicago
Teardowns and land values in the Chicago metropolitan area
Urban land value functions with endogenous zoning
Identifying Sub-centres Using Contiguity Matrices
This paper presents a simple algorithm for identifying sub-centres using standard properties of contiguity matrices to simplify the identification procedure. Sub-centres are identified for Atlanta, Baltimore-Washington, Boston, New York and Philadelphia. A sub-centre is defined to be a set of contiguous tracts that each have significantly positive residuals in a first-stage non-parametric regression and that together have at least 10 000 employee…
Work location, residence location, and the intraurban wage gradient
Employment Subcenters and Subsequent Real Estate Development in Suburban Chicago
Determinants of Suburban Development Controls
In addition to land-use zoning, development controls in the suburban municipalities of metropolitan Chicago include architectural reviews, appearance regulations, historical preservation areas, enterprise zones, tax-increment financing districts, development impact fees and regulations pertaining to group homes, mobile homes, factory-assembled homes and adult uses. Results of a factor analysis imply that development control policies tend to clust…
Airport expansions and property values
Changes in the distribution of house prices over time
Land Values and the 1957 Comprehensive Amendment to the Chicago Zoning Ordinance
In 1957 Chicago enacted a Comprehensive Amendment to the Chicago Zoning Ordiance of 1923. In contrast to the hierarchical zoning of the 1923 ordinance, the 1957 ordinance made each zoning category exclusive and mandated the removal of non-conforming uses. This study examines land parcels at the borders between residential and non-residential (commercial or manufacturing) zones, and finds that land values in non-residential zones enjoyed a one-tim…
Neighborhood house price indexes in Chicago
House price indexes are estimated for 851 census tracts in the City of Chicago using a Fourier repeat sales estimator. Locally weighted regression allows price indexes to be estimated for submarkets with small numbers of sales. Annual appreciation rates are higher between 1990 and 1996 in neighborhoods close to the city center with large minority populations, high concentrations of poverty, and many vacant homes in 1990
Could Zoning Have Increased Land Values in Chicago
The Dynamics of Intraurban Quantile House Price Indexes
Estimating price indexes for different quantiles shows how prices vary for homes that are in different stages of the filtering process. The paper describes a filtering model and its implication for the dynamic interaction of housing prices at these various stages. A time-series analysis of quantile price indexes for three municipalities near Chicago supports the predictions of the filtering model
Population Density in Suburban Chicago
Bid-rent theory suggests that the dependent variable of a population density function is unobserved (or population equals zero) if land values are relatively low in residential use. If the errors of density and bid-rent function errors are correlated, bid-rent theory implies that OLS population density estimates are subject to selection bias. Combined land use and density estimates for suburban Chicago confirm these predictions. The results provi…
Selection bias and land development in the monocentric city model
A Markov Chain model of zoning change
Consistent estimation of the urban land value function
Path breaking books in regional science
Multiple Regime Bid-Rent Function Estimation
Option value and the price of teardown properties
Teardowns and Demolitions in Chicago, 2000–2014
Des modèles Probit paramétriques conditionnels sont utilisés pour estimer la probabilité qu’un permis de démolir soit délivré pour les propriétés résidentielles à Chicago pour la période 2000-2014. Cette approche est particulièrement pertinente pour cette étude, car elle permet d’estimer des coefficients différents entre les localisations, selon que la démolition soit suivie de la construction d’un nouvel immeuble ou qu’elle laisse un terrain ino…
Vintage Growth and Population Density
Employment Subcenters and Land Values in a Polycentric Urban Area
In some previous empiricial research metropolitan Chicago has been considered as a polycentric urban area. This prior research is reviewed and new results are presented on the identification of employment subcenters and the effects of such subcenters on residential land values. The empirical tests confirm that the O'Hare Airport area has emerged as a significant employment subcenter. Several other employment subcenters exist or have existed in th…
Constructing Confidence Intervals Using the Bootstrap
B. Kelly Eakin, Daniel P. McMillen, Mark J. Buono, Constructing Confidence Intervals Using the Bootstrap: An Application to a Multi-Product Cost Function, The Review of Economics and Statistics, Vol. 72, No. 2 (May, 1990), pp. 339-344
The timing and duration of development tax rate increases
Consistent estimation of the urban land value function
Urban land value functions with endogenous zoning
A Markov Chain model of zoning change
Work location, residence location, and the intraurban wage gradient
Selection bias and land development in the monocentric city model
Could Zoning Have Increased Land Values in Chicago
Vintage Growth and Population Density
One Hundred Fifty Years of Land Values in Chicago
Multiple Regime Bid-Rent Function Estimation
Suburban Subcenters and Employment Density in Metropolitan Chicago
Population Density in Suburban Chicago
Bid-rent theory suggests that the dependent variable of a population density function is unobserved (or population equals zero) if land values are relatively low in residential use. If the errors of density and bid-rent function errors are correlated, bid-rent theory implies that OLS population density estimates are subject to selection bias. Combined land use and density estimates for suburban Chicago confirm these predictions. The results provi…
Employment Subcenters and Subsequent Real Estate Development in Suburban Chicago
Nonparametric Employment Subcenter Identification
Land Values in a Newly Zoned City
The introduction of a new zoning ordinance to Chicago in 1923 offers a natural experiment that allows us to determine the effects of zoning on relative land-value growth rates. Policymakers claimed at the time that land-use zoning would raise aggregate land values by reducing negative externalities associated with mixed land use. After controlling for initial land use and the endogeneity of zoning decisions, we find that residential zoning led to…
Neighborhood house price indexes in Chicago
House price indexes are estimated for 851 census tracts in the City of Chicago using a Fourier repeat sales estimator. Locally weighted regression allows price indexes to be estimated for submarkets with small numbers of sales. Annual appreciation rates are higher between 1990 and 1996 in neighborhoods close to the city center with large minority populations, high concentrations of poverty, and many vacant homes in 1990
The Aroma of Tacoma
A variant of the average derivative estimator is developed to construct an index measuring the effects of a copper smelter on house prices in Tacoma, Washington. The estimated average derivative index is smooth and has lower standard errors than regression coefficients estimated separately across discrete time periods. The dataset spans the time of initial rumors of Superfund site designation, the closing of the smelter, Superfund site designatio…
Path breaking books in regional science
The number of subcenters in large urban areas
Identifying Sub-centres Using Contiguity Matrices
This paper presents a simple algorithm for identifying sub-centres using standard properties of contiguity matrices to simplify the identification procedure. Sub-centres are identified for Atlanta, Baltimore-Washington, Boston, New York and Philadelphia. A sub-centre is defined to be a set of contiguous tracts that each have significantly positive residuals in a first-stage non-parametric regression and that together have at least 10 000 employee…
Reaction of House Prices to a New Rapid Transit Line
This study examines the effect of the new rapid transit line from downtown Chicago to Midway Airport on single‐family house prices before and after the opening of the line. The results show that the housing market anticipated the opening of the line. House prices were being affected by proximity to the stations in the late 1980s and early 1990s—after the plans for the line were well known. The difference between the increase in the value of homes…
Airport expansions and property values
Determinants of Suburban Development Controls
In addition to land-use zoning, development controls in the suburban municipalities of metropolitan Chicago include architectural reviews, appearance regulations, historical preservation areas, enterprise zones, tax-increment financing districts, development impact fees and regulations pertaining to group homes, mobile homes, factory-assembled homes and adult uses. Results of a factor analysis imply that development control policies tend to clust…
Economics (29 works) · Housing Market and Economics (28 works) · Econometrics (22 works) · Mathematics (22 works) · Spatial and Panel Data Analysis (21 works) · Geography (20 works) · Engineering (18 works) · Statistics (17 works) · Regional Economics and Spatial Analysis (15 works) · Computer Science (13 works)