Housing supply elasticities can help explain why house prices differ across locations. This column uses a rich dataset and a novel identification method to show that US housing supply has become less elastic since the Global Crisis, with bigger declines in places where land-use regulation has tightened most and in areas that had larger price declines during the crisis. This new lower elasticity means US house prices should be more sensitive to changes in demand than before the crisis.
Knut Aastveit, Bruno Albuquerque, André Kallåk Anundsen, 25 February 2020
Related
-
Bernard Hoekman, Petros Mavroidis
Most Read
-
Terzi
-
Krugman
-
Goldstein, Levy Yeyati, Sartorio
-
Aghion, Artus, Oliu-Barton, Pradelski
-
Döttling, Ratnovski
-
Eichengreen, O'Rourke
-
Burgess, Sievertsen
-
Mitze, Kosfeld, Rode, Wälde
-
Heldring, Robinson
-
Eichengreen
Blogs&Reviews
-
Hebous
-
Gylfason
-
Beetsma, Schuknecht
-
Bouwens
-
Gaspar, Larraín Bascuñán
Vox eBooks
Don't Miss
Arezki, Djankov, Panizza
Bartsch, Bénassy-Quéré, Corsetti, Debrun
Scheuer
Events
-
20 - 21 April 2021 / Online / The Research Group of the Basel Committee, jointly with Deutsche Bundesbank and CEPR
-
20 - 20 April 2021 / Webinar /
-
20 - 20 April 2021 / Online / German Development Institute, the Centre for Economic Performance at the London School of Economics (CEP-LSE), and the Centre for Economic Policy Research (CEPR)
-
21 - 21 April 2021 / Online /
-
21 - 23 April 2021 / Online /
CEPR Policy Research
-
Gobillon, Solignac
-
Giglio, Maggiori, Stroebel, Weber
-
Summers, Fatás
-
Favero, Galasso
-
Butt, Churm, McMahon, Morotz, Schanz
-
Eichengreen, Avgouleas, Poiares Maduro, Panizza, Portes, Weder di Mauro, Wyplosz, Zettelmeyer
-
Baldwin, Beck, Bénassy-Quéré, Blanchard, Corsetti, De Grauwe, den Haan, Giavazzi, Gros, Kalemli-Ozcan, Micossi, Papaioannou, Pesenti, Pissarides , Tabellini, Weder di Mauro
-
Baldwin, Nakatomi
-
Thimann
-
Goodhart, Perotti