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MARKET INDUCED AND GOVERNMENT MANDATED ENERGY CONSERVATION IN THE HOUSING MARKET: Econometric Evidence from the U.S

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  • John M. Quigley

Abstract

This paper integrates and compares me results of two large†scale econometric analyses of the effects of residential energy prices upon the U.S. housing market. A simple model of energy consumption in the housing market is developed, and the results of these studies are compared with the common model. The two studies, using very different bodies of data and very different econometric techniques, yield very similar implications in terms of household expenditures and patterns of consumption. In particular, both studies confirm the importance of “natural conservation†in the housing market. Higher energy prices lead to substantially lower consumption of residential energy, even in the absence of regulation. In particular, it is estimated that a doubling of energy prices leads to a reduction of residential energy consumption of about twenty†five percent.

Suggested Citation

  • John M. Quigley, 1991. "MARKET INDUCED AND GOVERNMENT MANDATED ENERGY CONSERVATION IN THE HOUSING MARKET: Econometric Evidence from the U.S," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 3(1), pages 28-38, January.
    • Handle: RePEc:bla:revurb:v:3:y:1991:i:1:p:28-38
    DOI: 10.1111/j.1467-940X.1991.tb00077.x
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    Cited by:

    1. Glaeser, Edward L., 2014. "Understanding housing: The intellectual legacy of John Quigley," Regional Science and Urban Economics, Elsevier, vol. 47(C), pages 3-12.
    2. Piet Eichholtz & Nils Kok & John M. Quigley, 2010. "Doing Well by Doing Good? Green Office Buildings," American Economic Review, American Economic Association, vol. 100(5), pages 2492-2509, December.

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