Land Use Regulation and Welfare

  title={Land Use Regulation and Welfare},
  author={M. Turner and A. Haughwout and W. V. D. Klaauw},
  • M. Turner, A. Haughwout, W. V. D. Klaauw
  • Published 2014
  • Economics
  • Econometrica
  • We evaluate the effect of land use regulation on the value of land and on welfare. Our estimates are based on a decomposition of the effects of regulation into three components: an own‐lot effect, which reflects the cost of regulatory constraints to the owner of a parcel; an external effect, which reflects the value of regulatory constraints on one's neighbors; a supply effect, which reflects the effect of regulated scarcity of developable land. Using this decomposition, we arrive at a novel… CONTINUE READING
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