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Prix fonciers et demande de sol à usage résidentiel en France (1975-2000)

  • Florence Goffette-Nagot

This paper documents the increase in residential land prices in France over a twenty-five-years period. We estimate a land price function accounting for changes in urban size over time on a nation-wide sample. We take into account the concave relationship between lot price and lot surface and deal with the endogeneity of the latter. We also account for a potential selection bias. We are able to disentangle, in the land price increase, pure time effects from changes in location characteristics and in the location of newly built houses. We also provide estimates of income and price elasticity of residential land demand. Classification JEL : R11, R21, R31.

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Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 60 (2009)
Issue (Month): 3 ()
Pages: 853-862

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Handle: RePEc:cai:recosp:reco_603_0853
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  1. Holly, Sean & Pesaran, M. Hashem & Yamagata, Takashi, 2006. "A Spatio-Temporal Model of House Prices in the US," IZA Discussion Papers 2338, Institute for the Study of Labor (IZA).
  2. Morris A. Davis & Michael G. Palumbo, 2006. "The price of residential land in large U.S. cities," Finance and Economics Discussion Series 2006-25, Board of Governors of the Federal Reserve System (U.S.).
  3. Lee, Lung-fei & Maddala, G S & Trost, R P, 1980. "Asymptotic Covariance Matrices of Two-Stage Probit and Two-Stage Tobit Methods for Simultaneous Equations Models with Selectivity," Econometrica, Econometric Society, vol. 48(2), pages 491-503, March.
  4. Edward L. Glaeser & Joseph Gyourko & Raven E. Saks, 2005. "Why Have Housing Prices Gone Up?," Harvard Institute of Economic Research Working Papers 2061, Harvard - Institute of Economic Research.
  5. Karl E. Case & Christopher J. Mayer, 1995. "Housing price dynamics within a metropolitan area," Working Papers 95-3, Federal Reserve Bank of Boston.
  6. Colwell, Peter F. & Munneke, Henry J., 1997. "The Structure of Urban Land Prices," Journal of Urban Economics, Elsevier, vol. 41(3), pages 321-336, May.
  7. Joseph Gyourko & Christopher Mayer & Todd Sinai, 2006. "Superstar Cities," NBER Working Papers 12355, National Bureau of Economic Research, Inc.
  8. Charles Himmelberg & Christopher Mayer & Todd Sinai, 2005. "Assessing high house prices: bubbles, fundamentals, and misperceptions," Staff Reports 218, Federal Reserve Bank of New York.
  9. McMillen, Daniel P. & Jarmin, Ronald & Thorsnes, Paul, 1992. "Selection bias and land development in the monocentric city model," Journal of Urban Economics, Elsevier, vol. 31(3), pages 273-284, May.
  10. McMillen, Daniel P., 2003. "The return of centralization to Chicago: using repeat sales to identify changes in house price distance gradients," Regional Science and Urban Economics, Elsevier, vol. 33(3), pages 287-304, May.
  11. Hans R. Isakson & Mark D. Ecker, 2001. "An Analysis of the Influence of Location in the Market for Undeveloped Urban Fringe Land," Land Economics, University of Wisconsin Press, vol. 77(1), pages 30-41.
  12. McMillen, Daniel P. & McDonald, John F., 1991. "A simultaneous equations model of zoning and land values," Regional Science and Urban Economics, Elsevier, vol. 21(1), pages 55-72, May.
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