Skyscrapers and Skylines: New York and Chicago, 1885-2007
AbstractThis 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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Bibliographic InfoPaper provided by Department of Economics, Rutgers University, Newark in its series Working Papers Rutgers University, Newark with number 2011-001.
Length: 34 pages
Date of creation: Oct 2011
Date of revision:
New York; Chicago; skyscrapers; building height;
Find related papers by JEL classification:
- R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
- R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets
- N6 - Economic History - - Manufacturing and Construction
- N9 - Economic History - - Regional and Urban History
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