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Title: Urban land policy and housing in an endogenously growing monocentric city
Authors: Lin, Chu-Chia;Mai, C.-C.;Wang, P.
Contributors: 經濟系
Date: 2004-05
Issue Date: 2015-07-20 17:37:08 (UTC+8)
Abstract: We examine the long-run effects of urban land policy on housing investment/pricing and city development. Housing is introduced through a socially constant-returns household production technology with uncompensated positive neighborhood externalities. We prove the existence/uniqueness of and characterize the balanced growth spatial equilibrium. Both a control of the housing price at the urban fringe and a zoning policy that relaxes more-than-proportionately the floor area ratio in favor of locations toward the city center are growth-enhancing. The long-run rate of growth is unambiguously lower in a regime where zoning does not differentiate land-use intensity, compared to the conventional setup.
Relation: Regional Science and Urban Economics, 34(3), 241-261
Data Type: article
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