Measuring the Costs of Height Restrictions with a General Equilibrium Model
AbstractThis paper investigates the costs of residential height restrictions, using a numerically solvable general equilibrium model based on residential location theory. Time and money costs of travel are treated separately. Household demand recreational land and structure and actual construction cost data are used in an activity analysis formulation of the supply side of the housing market. There are two major conclusions. First, households' demand for recreational land is significant; ignoring it results in simulated cities considerably smaller and denser than is observed. Second, residential height restrictions merit serious consideration since their costs appear to be quite modest.
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Bibliographic InfoPaper provided by Queen's University, Department of Economics in its series Working Papers with number 242.
Date of creation: 1976
Date of revision:
Publication status: Published in Regional Science and Urban Economics, 7, 1977
Other versions of this item:
- Arnott, Richard J. & MacKinnon, James G., 1977. "Measuring the costs of height restrictions with a general equilibrium model," Regional Science and Urban Economics, Elsevier, vol. 7(4), pages 359-375, November.
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- Brueckner, Jan K., 1995. "Strategic control of growth in a system of cities," Journal of Public Economics, Elsevier, vol. 57(3), pages 393-416, July.
- Tatsuhito Kono & Takayuki Kaneko & Hisa Morisugi, 2010. "Necessity of minimum floor area ratio regulation: a second-best policy," The Annals of Regional Science, Springer, vol. 44(3), pages 523-539, June.
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- Brueckner, Jan K. & Sridhar, Kala Seetharam, 2012. "Measuring welfare gains from relaxation of land-use restrictions: The case of India's building-height limits," Regional Science and Urban Economics, Elsevier, vol. 42(6), pages 1061-1067.
- Joshi, Kirti Kusum & Kono, Tatsuhito, 2009. "Optimization of floor area ratio regulation in a growing city," Regional Science and Urban Economics, Elsevier, vol. 39(4), pages 502-511, July.
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