Black, Dan; Kolesnikova, Natalia; Taylor, Lowell J. - Federal Reserve Bank of St. Louis - 2007
, Rosen (1985), reports an income elasticity of demand on housing
of 0:76. Harmon (1988) reviews a large number of studies and … higher concentrations of college-educated individuals (i.e.,
we would expect 2 to be positive). In any event, we want to … event, in the second column of Table 3 we present results
for a speciflcation that weights by metropolitan size. Our key …