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Growth and Distributional Impacts of Urban Housing Supply: An Application of Urban Land Use and a CGE Model For Seoul

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  • Euijune, Jaeuk Kim Ju

Abstract

This paper assesses economic effects of housing supplies on the urban growth and income distribution of Seoul, using an urban land use and Computable General Equilibrium model of Seoul economy. The simulation shows that the housing development with the conversion of the green or the industrial land uses into the residential land use leads to an increase of the Gross Regional Product by approximately 1% at the worse income inequality. The aggregate welfare effects in terms of Hicksian Compensating Variation range from 1.746 trillion Korean Won to 1.768 trillion Korean Won on a ten†period average, depending on the type of the land conversion.

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  • Euijune, Jaeuk Kim Ju, 2003. "Growth and Distributional Impacts of Urban Housing Supply: An Application of Urban Land Use and a CGE Model For Seoul," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 15(1), pages 66-81, March.
    • Handle: RePEc:bla:revurb:v:15:y:2003:i:1:p:66-81
    DOI: 10.1111/1467-940X.00065
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    Cited by:

    1. Hong Xu & Hui Wang & Chunming Zhou & Zhen Geng, 2016. "Dual Attributes of Government Intervention and China’s Real Estate Prices—Is Chinese Government a Promoter of the Real Estate Prices?," Accounting and Finance Research, Sciedu Press, vol. 5(3), pages 1-29, August.
    2. Mark D. Partridge & Dan S. Rickman, 2012. "Integrating Regional Economic Development Analysis and Land Use Economics," Economics Working Paper Series 1203, Oklahoma State University, Department of Economics and Legal Studies in Business.

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