Replication data for: A Dynamic Model of Housing Supply
Principal Investigator(s): View help for Principal Investigator(s) Alvin Murphy
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
|---|---|---|---|
| Pol2015-0297_data | 10/13/2019 05:11:AM | ||
|
|
text/plain | 14.6 KB | 10/13/2019 01:12:AM |
Project Citation:
Murphy, Alvin. Replication data for: A Dynamic Model of Housing Supply. Nashville, TN: American Economic Association [publisher], 2018. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114655V1
Project Description
Summary:
View help for Summary
This paper estimates a dynamic microeconometric model of housing supply. The model features forward-looking landowners who optimally choose both the timing and the nature of construction while taking into account expectations about future prices and costs. The model is estimated using a unique dataset describing individual landowners in the San Francisco Bay Area. Results indicate that geographic and time-series variation in costs are key to understanding where and when construction occurs. Pro-cyclical costs provide an incentive for some landowners to build before price peaks. Results also indicate that landowners actively "time" the market, which reduces the elasticity of supply.
Scope of Project
JEL Classification:
View help for JEL Classification
C51 Model Construction and Estimation
D12 Consumer Economics: Empirical Analysis
E32 Business Fluctuations; Cycles
R21 Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
R31 Housing Supply and Markets
C51 Model Construction and Estimation
D12 Consumer Economics: Empirical Analysis
E32 Business Fluctuations; Cycles
R21 Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
R31 Housing Supply and Markets
Related Publications
Published Versions
Report a Problem
Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.
This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.