in areas that experienced the sharpest housing busts. A lowering of the housing supply elasticity implies a strengthened … has been weak. Using data for 254 US metropolitan areas, we show that housing supply elasticities have fallen markedly in … recent years. Housing supply elasticities have declined more in areas where land-use regulation has tightened the most, and …

The study estimates the housing supply elasticity and the impact of geographic constraints in Germany from 2008 … housing supply elasticity across districts. Notably, high development intensity decreases the elasticity, while the … unavailability of land for development due to restrictive geography has no significant impact on the housing supply elasticity. The …

during busts. The standard model of housing demand treats housing as a quantity of "housing services", an imaginary … housing services as fixed is able to do this. This is shown by means of a formal analysis of a model in which households that … differ in income are allocated over a given housing stock. In particular, the model predicts that the price of housing as a …

This paper employs panel data on 413 counties and cities over 2004-2009 to investigate the local supply of new single …-family housing in Germany. Construction activity in local housing markets (measured by new housing permits related to the local … housing stock) is modeled as a function of local home prices and new housing development costs, with the latter including …

single-family housing in local housing markets. New local housing supply is measured by the annual number of construction … permits in relation to the existing single-family housing stock. This supply indicator is econometrically related to existing … construction activity. The average local price elasticity of new single-family home supply is considerably less than one, with …

MSA-level estimates of a housing supply schedule must offer a solution to the twin problems of simultaneity and … residential construction permits since 1980. The results provide long run supply elasticity estimates for each market that are … stationarity that plague the time series data for local housing prices and stock. An Error Correction Model (ECM) is shown to …