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The Estimation and Determinants of the Price Elasticity of Housing Supply: Evidence from China

  • Songtao Wang

    ()

    (Tsinghua University)

  • Su Han Chan

    ()

    (Baruch College, City University of New York)

  • Bohua Xu

    ()

    (University of Southern California)

Registered author(s):

    This paper provides a first look at estimates of the price elasticity of housing supply in China at both the national and city levels. Using a panel dataset consisting of 35 cities in China from 1998 to 2009, we find the implied national price elasticity of housing supply to be between 2.8 and 5.6. Our city-level analysis reveals that geographic, economic as well as regulatory factors are significant determinants of the variation in the observed price elasticity of housing supply. The study of a different regulatory and economic environment contributes to the growing literature on supply elasticity and helps explain the seemingly wide variation in supply elasticities observed across cities and countries.

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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol34n03/03.311_344.pdf
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    Article provided by American Real Estate Society in its journal journal of Real Estate Research.

    Volume (Year): 34 (2012)
    Issue (Month): 3 ()
    Pages: 311-344

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    Handle: RePEc:jre:issued:v:34:n:3:2012:p:311-344
    Contact details of provider: Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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