• Publications
  • Influence
Hedonic Pricing Models: A Selective and Applied Review
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A Simple Error Correction Model of House Prices
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Housing Prices, Externalities, and Regulation in U.S. Metropolitan Areas
Housing prices vary widely between U.S. markets. The purpose of this study is to analyze determinants of housing prices, with particular focus on the effects of regulations in land and housingExpand
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The Long-Run Price Elasticity of Supply of New Residential Construction in the United States and the United Kingdom
Abstract Most housing models, and most policy analysis, hinge on explicit or implicit estimates of the price elasticity of supply of housing: does the market respond to demand side shocks with moreExpand
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The Role of Speculation in Real Estate Cycles
Our study investigates the role of speculation in real estate cycles. We find that even a simple model of lagged supply response to price changes and speculation is sufficient to generate real estateExpand
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New Place-to-Place Housing Price Indexes for U.S. Metropolitan Areas, and Their Determinants
Housing prices vary widely from market to market in the United States. The purpose of this study is to (1) construct new place-to-place indexes of the price of housing, using the 1990 Census, and (2)Expand
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Does the low-income housing tax credit increase the supply of housing?
Abstract The low-income housing tax credit (LIHTC) was originated in conjunction with the Tax Reform Act of 1986 (TRA 86) to provide incentives for private sector production of low-income housing. InExpand
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Economic analysis of housing markets in developing and transition economies
The purpose of this chapter is to survey recent research on housing markets and policy in what used to be called the "second" and "third" worlds. We adopt the labels "transition" economies to referExpand
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A Review of Empirical Evidence on the Costs and Benefits of Rent Control
Summary We survey selected literature on costs and benefits of rent controls, with a particular emphasis on empirical literature. Much of the empirical literature focuses on measuring welfare changesExpand
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