Urban Land Policy and Housing in an Endogenously Growing Monocentric City

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Title:	Urban Land Policy and Housing in an Endogenously Growing Monocentric City
Authors:	麥朝成;Mai, Chao-cheng;Lin, Chu-Chia;Wang, Ping
Contributors:	淡江大學產業經濟學系
Date:	2004-12
Issue Date:	2011-09-29 10:55:40 (UTC+8)
Publisher:	Elsevier
Abstract:	We examine the long-run effects of urban land policy on housing investment/pricing and city development. Housing is introduced through a socially constant-returns household production technology with uncompensated positive neighborhood externalities. We prove the existence/uniqueness of and characterize the balanced growth spatial equilibrium. Both a control of the housing price at the urban fringe and a zoning policy that relaxes more-than-proportionately the floor area ratio in favor of locations toward the city center are growth-enhancing. The long-run rate of growth is unambiguously lower in a regime where zoning does not differentiate land-use intensity, compared to the conventional setup.
Relation:	Regional Science and Urban Economics 34(3), pp.241-261
DOI:	10.1016/S0166-0462(03)00026-7
Appears in Collections:	[Graduate Institute & Department of Industrial Economics] Journal Article

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