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
LICENSE.txt 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


Related Publications

Download this project

Published Versions

V1 [2019-10-13]

Export Metadata

Dublin Core

DDI 2.5

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 received from the data depositor. As of April 2026, depositors are required to submit study materials in accessible formats. ICPSR has not reviewed, checked, or processed this material. For additional information about the study, please contact the investigator(s) directly. If you have questions about the accessibility of materials distributed by ICPSR or require further assistance, please visit ICPSR's Accessibility Center.