The Long-Run Price Elasticity of Supply of New Residential Construction in the United States and the United Kingdom
By S. Malpezzi, D. Maclennan. 2001
216 citations recorded by the source corpus.
Subfields: Accounting, Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/e39ab55ede7d268b698c2dc0015105ff8e4f062b
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In Accounting
- John V. Duca
- Susan M. Wachter
- Anthony Murphy
- J. Muellbauer
- B. Turner
- S. Malpezzi
- Liang Peng
- Jim Clayton
In Economics and Econometrics
- John V. Duca
- Susan M. Wachter
- Anthony Murphy
- J. Muellbauer
- B. Turner
- S. Malpezzi
- Michael LaCour-Little
- Liang Peng
Citations in the corpus
- A Review of Empirical Evidence on the Costs and Benefits of Rent Control (2003, result): “Later studies, such as Topel and Rosen (1988) and Poterba (1991) found lower elasticities, on the order of 2 to 3.9 Malpezzi and Maclennan (2001) found a high long run elasticity for the US; found evidence that the different results from the other studies just cited might be partly due to different…”
- Subprime Lending and the Housing Bubble: Tail Wags Dog? (2008, result): “These arguments are consistent with Malpezzi (1996, 1999) and Malpezzi and Maclennan (2001), that cross-sectional variation in regulatory constraints helps explain variation in house price dynamics through its effect on supply elasticity.”
- Housing markets and the financial crisis of 2007-2009: lessons for the future (2010, background): “…whether positive 16 For example, see Titman (1985), Mayo and Sheppard (1991, 1996), Bramley (1993a,b), Evans (1996), Mayer and Somerville (2000a,b), Malpezzi and Maclennan (2001), Swank et al. (2002), Barker (2003), Bramley and Leishman (2005), Green et al. (2005), Quigley (2007), Vermeulen and…”
- The Role of Speculation in Real Estate Cycles (2002, methodology): “…range from statistically indistinguishable from zero (in seriously restricted markets like Korea and Malaysia, as described in Malpezzi and Mayo 1997) to statistically indistinguishable from infinity (in the long run, in the U.S., as in Muth 1960, Follain 1979, and Malpezzi and Maclennan 2001).”
- Price-volume Correlation in the Housing Market: Causality and Co-movements (2010, background): “In fact, Smith (1976), Hanushek and Quigley (1980), DiPasquale and Wheaton (1994), and Malpezzi and Maclennan (2001) among others, provide evidence of negative price elasticity of housing demand and positive price elasticity of housing supply.”
- Residential Construction: Using the Urban Growth Model to Estimate Housing Supply (2000, unknown): “Authors such as Muth [26], Follain [16], Stover [33], and Malpezzi and Maclennan [21] use this approach, a variant of the reduced-form equation, and none finds a statistically significant relationship between price levels and demand measures.”