House Prices and Growth with Fixed Land Supply
Datos Bibliográficos
| ID | 9950029 |
|---|---|
| Autores | David Miles (0000-0002-6387-0041, Imperial College, London and CEPR, UK, autor de correspondencia), James Sefton (0000-0003-2504-7211, Imperial College London) |
| Año | 2020 |
| Volumen | 131 |
| Número | 636 |
| Páginas | 1815-1848 |
| Fecha de publicación | 2020-07-11 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | The Economic Journal (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editorial | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1093/ej/ueaa088 |
| OpenAlex | W3041935143 |
| Idioma | EN |
| Referencias citadas | 48 |
We analyse housing costs and patterns of residential development over the long term in a dynamic general equilibrium. We show that in a growing economy the speed of travel improvements is crucial to the evolution of land and house prices. We derive a condition for the rate of change in transport efficiency that generates flat land and house prices on a balanced growth path. We present evidence that this condition was satisfied in many countries between the mid-nineteenth century and the mid-twentieth century, but since then passenger transport improvements have slowed down with major implications for how house prices evolve
Econometrics · Economics · Economy · House price · Market economy · Natural resource economics · Term (time · Fiscal Policy and Economic Growth · Housing Market and Economics · Regional Economics and Spatial Analysis
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| Velocidad de citación | historical |
|---|---|
| Altamente citado | No |