new housing supply can improve housing affordability. In the model, equilibrium rental rates are determined so that the … neighborhood. We find that the rent elasticity is low, and thus marginal reductions in supply constraints alone are unlikely to … level of amenities in a neighborhood—as in a Rosen-Roback spatial equilibrium framework—than by the supply of housing …

uncertainty about the identifying assumptions themselves. We use this approach to revisit the importance of shocks to oil supply … and demand. Supply disruptions turn out to be a bigger factor in historical oil price movements and inventory accumulation … a smaller factor than implied by earlier estimates. Supply shocks lead to a reduction in global economic activity after …