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Skyscrapers and Skylines: New York and Chicago, 1885-2007

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  • Jason Barr

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Abstract

This paper compares and contrasts the determinants of the market for skyscrapers in Chicago and New York from 1885 to 2007, using annual time series data. I estimate the factors that determine both the number of skyscraper completions and the height of the tallest building completed each year in the two cities. I find that each city responds differently to the same economic fundamentals. Also, regressions test for and find the presence of strategic interaction across the two cities. I also estimate the effects of zoning regulations on height. Compared to New York, Chicago's zoning policies significantly reduced the height of its skyline.

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File URL: http://www.ncas.rutgers.edu/department-economics/workingpaper20111
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Bibliographic Info

Paper provided by Department of Economics, Rutgers University, Newark in its series Working Papers Rutgers University, Newark with number 2011-001.

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Length: 34 pages
Date of creation: Oct 2011
Date of revision:
Handle: RePEc:run:wpaper:2011-001

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Keywords: New York; Chicago; skyscrapers; building height;

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References

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  1. Bertaud, Alain & Brueckner, Jan K., 2005. "Analyzing building-height restrictions: predicted impacts and welfare costs," Regional Science and Urban Economics, Elsevier, vol. 35(2), pages 109-125, March.
  2. Glaeser, Edward L & Gyourko, Joseph & Saks, Raven, 2005. "Why Is Manhattan So Expensive? Regulation and the Rise in Housing Prices," Journal of Law and Economics, University of Chicago Press, vol. 48(2), pages 331-69, October.
  3. Alberto Abadie & Sofia Dermisi, 2006. "Is Terrorism Eroding Agglomeration Economies in Central Business Districts? Lessons from the Office Real Estate Market in Downtown Chicago," NBER Working Papers 12678, National Bureau of Economic Research, Inc.
  4. Jason Barr & Troy Tassier & Rossen Trendafilov, 2009. "Bedrock Depth and the Formation of the Manhattan Skyline, 1890-1915," Working Papers Rutgers University, Newark 2009-006, Department of Economics, Rutgers University, Newark.
  5. Louis J. Maccini & Bartholomew J. Moore & Huntley Schaller, 2004. "The Interest Rate, Learning, and Inventory Investment," American Economic Review, American Economic Association, vol. 94(5), pages 1303-1327, December.
  6. Jason Barr, 2007. "Skyscrapers and the Skyline: Manhattan, 1895-2004," Working Papers Rutgers University, Newark 2007-002, Department of Economics, Rutgers University, Newark.
  7. Edward L. Glaeser & Joshua D. Gottlieb, 2009. "The Wealth of Cities: Agglomeration Economies and Spatial Equilibrium in the United States," NBER Working Papers 14806, National Bureau of Economic Research, Inc.
  8. John J. Siegfried & Andrew Zimbalist, 2000. "The Economics of Sports Facilities and Their Communities," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 95-114, Summer.
  9. Rosenbloom, Joshua L., 1996. "Was There a National Labor Market at the End of the Nineteenth Century? New Evidence on Earnings in Manufacturing," The Journal of Economic History, Cambridge University Press, vol. 56(03), pages 626-656, September.
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  1. Historical Economic Geography

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