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- Title
Supply Elasticity and the Housing Cycle of the 2000s.
- Authors
Davidoff, Thomas
- Abstract
There is no evidence that differences in supply elasticity caused cross-sectional variation among U.S. housing markets in the severity of the 2000s housing cycle. This is true in three sets of empirical specifications: a first that assumes identical demand changes in the 2000s across markets, a second that proxies for supply elasticity and demand changes in the 2000s with estimates based on price and quantity changes in the 1980s and a third that uses physical and regulatory constraints to proxy for supply elasticity and uses state fixed effects to capture variation in demand conditions.
- Subjects
UNITED States; HOUSING market; SUPPLY &; demand; PRICES; METROPOLITAN areas; HOME prices
- Publication
Real Estate Economics, 2013, Vol 41, Issue 4, p793
- ISSN
1080-8620
- Publication type
Article
- DOI
10.1111/1540-6229.12019