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Reflections on the nature and policy implications of planning restrictions on housing supply. Discussion of 'Planning policy, planning practice, and housing supply' by Kate Barker

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  • Paul Cheshire

Abstract

Planning is about other things as well, but it is fundamentally an economic activity. It allocates a scarce resource but independently of prices or any market information. In analysing the effects this allocative mechanism has on housing supply (or, indeed, the supply of buildings for any given use), we need to think carefully about what exactly it is that planning allocates and whether, in its operation, it creates a constraint on the supply of what it is allocating. In the British case, our planning system does not operate on the supply of housing directly, but indirectly via the constraint imposed on land supply. Given the income elasticity of demand for space this has policy implications perhaps even more serious than is acknowledged by Barker
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Suggested Citation

  • Paul Cheshire, 2008. "Reflections on the nature and policy implications of planning restrictions on housing supply. Discussion of 'Planning policy, planning practice, and housing supply' by Kate Barker," Oxford Review of Economic Policy, Oxford University Press, vol. 24(1), pages 50-58, spring.
  • Handle: RePEc:oup:oxford:v:24:y:2008:i:1:p:50-58
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    File URL: http://hdl.handle.net/10.1093/oxrep/grn002
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    References listed on IDEAS

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    1. J. Phillips & E. Goodstein, 2000. "Growth management and housing prices: the case of Portland, Oregon," Contemporary Economic Policy, Western Economic Association International, vol. 18(3), pages 334-344, July.
    2. Cheshire, P. C. & Sheppard, Stephen Charles, 2005. "The introduction of price signals into land use planning decision-making : a proposal," LSE Research Online Documents on Economics 568, London School of Economics and Political Science, LSE Library.
    3. Song, Yan & Knaap, Gerrit-Jan, 2003. "New urbanism and housing values: a disaggregate assessment," Journal of Urban Economics, Elsevier, vol. 54(2), pages 218-238, September.
    4. Glaeser, Edward L & Gyourko, Joseph & Saks, Raven, 2005. "Why Is Manhattan So Expensive? Regulation and the Rise in Housing Prices," Journal of Law and Economics, University of Chicago Press, vol. 48(2), pages 331-369, October.
    5. Edward L. Glaeser & Joseph Gyourko, 2003. "The impact of building restrictions on housing affordability," Economic Policy Review, Federal Reserve Bank of New York, issue Jun, pages 21-39.
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    More about this item

    JEL classification:

    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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