| Title: | Urban land policy and housing in an endogenously growing monocentric city |
| Authors: | Lin, Chu-Chia;Mai, C.-C.;Wang, P.
林祖嘉 |
| 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 |
| DOI link: | http://dx.doi.org/10.1016/S0166-0462(03)00026-7 |
| Appears in Collections: | [Department of Economics] Periodical Articles
|
