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Replication data for: A Dynamic Model of Housing Supply

Version
V0
Resource Type
Dataset
Creator
  • Murphy, Alvin
Publication Date
2018-11-01
Description
  • Abstract

    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.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/pol.20150297 (Text)
Publications
  • Murphy, Alvin. “A Dynamic Model of Housing Supply.” American Economic Journal: Economic Policy 10, no. 4 (November 2018): 243–67. https://doi.org/10.1257/pol.20150297.
    • ID: 10.1257/pol.20150297 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-13

Murphy, Alvin (2018): Replication data for: A Dynamic Model of Housing Supply. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E114655