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http://hdl.handle.net/2445/115897
Title: | The impact of supply constraints on house prices in England |
Author: | Hilber, Christian A. L. Vermeulen, Wouter |
Keywords: | Habitatge Política de preus Ús del sòl Housing Prices policy Land use |
Issue Date: | 2013 |
Publisher: | Institut d’Economia de Barcelona |
Series/Report no: | [WP E-IEB13/28] |
Abstract: | We explore the impact of different types of supply constraints on House prices in England by exploiting a unique panel dataset of 353 local planning authorities ranging from 1974 to 2008. Using exogenous variation from a policy reform, vote shares and historical density to identify the endogenous constraints-measures, we find that: i) Regulatory constraints have a substantive positive impact on the house price-earnings elasticity; ii) The effect of constraints due to scarcity of developable land is largely confined to highly urbanised areas; iii) Uneven topography has a quantitatively less meaningful impact; and iv) The effects of supply constraints are greater during boom than bust periods. |
Note: | Reproducció del document publicat a: http://www.ieb.ub.edu/2012022157/ieb/ultimes-publicacions |
It is part of: | IEB Working Paper 2013/28 |
URI: | http://hdl.handle.net/2445/115897 |
Appears in Collections: | IEB (Institut d’Economia de Barcelona) – Working Papers |
Files in This Item:
File | Description | Size | Format | |
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IEB13-28_Hilber.pdf | 1.75 MB | Adobe PDF | View/Open |
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