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Spatial equilibrium in housing markets implies that distant factors are correlated with prices in specific (focal) neighborhoods through market mechanisms. Using this logic, we develop a novel approach for handling price endogeneity in a reduced-form land use model. We combine a control function...
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Land use policy is administered at the local level in the U.S. However, many of the benefits and costs have broader spatial impacts. Thus, a lack of coordination across local jurisdictions may lead to unintended spillovers. Using historical data from the Baltimore, Maryland metro, we examine the...
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Property taxes and zoning restrictions are prevalent tools for managing urban land use. In this paper, we combine micro-level data on residential subdivision development from a three-county region in the Baltimore, Maryland metro from 1994-2007 with an IV competing risks model to examine how...
Persistent link: https://www.econbiz.de/10012934438
Urban areas possess complex spatial configurations. These patterns are produced by cumulative changes in land use and land cover as human and natural environments are influenced by markets forces, policy, and changes in the natural landscape. To understand the mechanisms underlying these complex...
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We investigate whether residential development patterns from a rapidly growing exurban area are consistent with the urban economic model's predictions of leapfrog and infill development. Using historical data on subdivision development from 1960-2005 in the Baltimore, Maryland region, we develop...
Persistent link: https://www.econbiz.de/10013025719