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A General Equilibrium Spatial Model of Housing Quality and Quantity

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Author Info
Richard Arnott () (Boston College)
Ralph Braid (Wayne State University)
Russell Davidson (Queen's University)
David Pines (Tel-Aviv University)

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Abstract

This paper examines the properties of stationary-state general equilibrium in a monocentric city with durable housing. On the demand side, identical households choose location, housing quality and quantity (floor area), and other goods. On the supply side, developers choose the structural density and time path of quality (which depends on construction quality and maintenance) of buildings. Under a certain set of assumptions, existence and uniqueness of equilibrium are proved, and its comparative static/dynamic properties are determined.

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Publisher Info
Paper provided by Boston College Department of Economics in its series Boston College Working Papers in Economics with number 307..

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Length: 43 pages
Date of creation: Aug 1995
Date of revision:
Handle: RePEc:boc:bocoec:307

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Related research
Keywords: Housing; space;

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Find related papers by JEL classification:
R1 - Urban, Rural, and Regional Economics - - General Regional Economics
R2 - Urban, Rural, and Regional Economics - - Household Analysis

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Brueckner, Jan K., 1980. "A vintage model of urban growth," Journal of Urban Economics, Elsevier, vol. 8(3), pages 389-402, November. [Downloadable!] (restricted)
  2. Wheaton, William C., 1982. "Urban residential growth under perfect foresight," Journal of Urban Economics, Elsevier, vol. 12(1), pages 1-21, July. [Downloadable!] (restricted)
  3. Brueckner, Jan K., 1980. "Residential succession and land-use dynamics in a vintage model of urban housing," Regional Science and Urban Economics, Elsevier, vol. 10(2), pages 225-240, June. [Downloadable!] (restricted)
  4. Arnott, Richard & Davidson, Russell & Pines, David, 1986. "Spatial aspects of housing quality, density, and maintenance," Journal of Urban Economics, Elsevier, vol. 19(2), pages 190-217, March. [Downloadable!] (restricted)
  5. Arnott, Richard J., 1980. "A simple urban growth model with durable housing," Regional Science and Urban Economics, Elsevier, vol. 10(1), pages 53-76, March. [Downloadable!] (restricted)
    Other versions:
  6. Brueckner, Jan K., 1981. "A dynamic model of housing production," Journal of Urban Economics, Elsevier, vol. 10(1), pages 1-14, July. [Downloadable!] (restricted)
  7. Wheaton, William C., 1974. "A comparative static analysis of urban spatial structure," Journal of Economic Theory, Elsevier, vol. 9(2), pages 223-237, October. [Downloadable!] (restricted)
  8. Richard Arnott & David Pines & Efraim Sadka, 1985. "The Effects of an Equiproportional Transport Improvement in a Fully-Closed Monocentric City," Working Papers 620, Queen's University, Department of Economics.
    Other versions:
  9. Wheaton, William C., 1982. "Urban spatial development with durable but replaceable capital," Journal of Urban Economics, Elsevier, vol. 12(1), pages 53-67, July. [Downloadable!] (restricted)
  10. Sweeney, James L., 1974. "A commodity hierarchy model of the rental housing market," Journal of Urban Economics, Elsevier, vol. 1(3), pages 288-323, July. [Downloadable!] (restricted)
  11. Hochman, Oded & Pines, David, 1982. "Costs of Adjustment and the Spatial Pattern of a Growing Open City," Econometrica, Econometric Society, vol. 50(6), pages 1371-91, November. [Downloadable!] (restricted)
  12. Arnott, Richard & Davidson, Russell & Pines, David, 1983. "Housing Quality, Maintenance and Rehabilitation," Review of Economic Studies, Blackwell Publishing, vol. 50(3), pages 467-94, July. [Downloadable!] (restricted)
  13. Anas, Alex, 1978. "Dynamics of urban residential growth," Journal of Urban Economics, Elsevier, vol. 5(1), pages 66-87, January. [Downloadable!] (restricted)
  14. T Akita & M Fujita, 1982. "Spatial development processes with renewal in a growing city," Environment and Planning A, Pion Ltd, London, vol. 14(2), pages 205-223, February. [Downloadable!] (restricted)
  15. Pines, David & Sadka, Efraim, 1986. "Comparative statics analysis of a fully closed city," Journal of Urban Economics, Elsevier, vol. 20(1), pages 1-20, July. [Downloadable!] (restricted)
  16. Fujita, Masahisa, 1976. "Spatial patterns of urban growth: Optimum and market," Journal of Urban Economics, Elsevier, vol. 3(3), pages 209-241, July. [Downloadable!] (restricted)
  17. Arnott, Richard, 1987. "Economic theory and housing," Handbook of Regional and Urban Economics, in: E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 2, chapter 24, pages 959-988 Elsevier. [Downloadable!] (restricted)
  18. Brueckner, Jan K., 1983. "The economics of urban yard space: An "implicit-market" model for housing attributes," Journal of Urban Economics, Elsevier, vol. 13(2), pages 216-234, March. [Downloadable!] (restricted)
  19. Cooke, Timothy W. & Hamilton, Bruce W., 1984. "Evolution of urban housing stocks: A model applied to Baltimore and Houston," Journal of Urban Economics, Elsevier, vol. 16(3), pages 317-338, November. [Downloadable!] (restricted)
  20. Wheaton, William C., 1977. "A bid rent approach to housing demand," Journal of Urban Economics, Elsevier, vol. 4(2), pages 200-217, April. [Downloadable!] (restricted)
  21. Fujita, Masahisa, 1982. "Spatial patterns of residential development," Journal of Urban Economics, Elsevier, vol. 12(1), pages 22-52, July. [Downloadable!] (restricted)
  22. Alex Anas & Richard Arnott, 1989. "Dynamic Housing Market Equilibrium with Taste Heterogeneity," Discussion Papers 834, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  23. Braid, Ralph M., 1991. "Residential spatial growth with perfect foresight and multiple income groups," Journal of Urban Economics, Elsevier, vol. 30(3), pages 385-407, November. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Alex Anas & Richard Arnott, 1989. "Dynamic Housing Market Equilibrium with Taste Heterogeneity," Discussion Papers 834, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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