住房价格、成本和政策：1970 年以来爱尔兰的住房供应方程

IF 2 3区经济学 Q2 BUSINESS, FINANCE

Real Estate Economics Pub Date : 2024-05-13 DOI:10.1111/1540-6229.12491

Maximilian Günnewig‐Mönert, Ronan C. Lyons

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引用次数: 0

摘要

本文以爱尔兰为例，采用 20 世纪 70 年代的季度频率以及 20 世纪 90 年代的县级面板数据，研究了新房供应对价格和成本的反应。通过四种误差修正规格，并在工具变量方法的支持下，我们发现基线中新建住房供应对价格的弹性估计值为 +0.9，而对成本的弹性估计值较大（-1.9）。我们提出的证据表明，对价格的反应在 20 世纪 80 年代后上升，然后在 2000 年代下降，之后再次上升，而且弹性在县一级也各不相同。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Housing prices, costs, and policy: The housing supply equation in Ireland since 1970

This article examines the responsiveness of new housing supply to prices and costs, using the case of Ireland at quarterly frequency from the 1970s, as well as a county‐level panel from the 1990s. Across four error‐correction specifications, and supported by an instrumental variables approach, we find the estimated elasticity of new housing supply to prices of +0.9 in the baseline, while that of costs is larger in magnitude (−1.9). We present evidence that responsiveness to prices rose after the 1980s, then fell in the 2000s, before rising again and also that elasticities vary at the county level.

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来源期刊

Real Estate Economics Multiple-

CiteScore

4.00

自引率

13.60%

发文量

期刊介绍： As the official journal of the American Real Estate and Urban Economics Association, Real Estate Economics is the premier journal on real estate topics. Since 1973, Real Estate Economics has been facilitating communication among academic researchers and industry professionals and improving the analysis of real estate decisions. Articles span a wide range of issues, from tax rules to brokers" commissions to corporate real estate including housing and urban economics, and the financial economics of real estate development and investment.