Zoning and the Distribution of Location Rents: An Empirical Analysis of Harris County, Texas
The Coase theorem presents two criteria for evaluating regulation: regulations efficiency relative to private solutions and how the regulation affects the distribution of wealth. Previous studies of the impact of municipal zoning have focused on Coase’s first criteria: whether zoning raises land values overall. This study estimates the transfer of wealth between owners of existing homes that results from the creation of a municipal zoning ordinance. We find that property best suited to residential use gains in value while property with relatively higher potential as commercial property experiences a decline in the value. We find that zoning is distributive.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ohls, James C. & Weisberg, Richard Chadbourn & White, Michelle J., 1974. "The effect of zoning on land value," Journal of Urban Economics, Elsevier, vol. 1(4), pages 428-444, October.
- Speyrer, Janet Furman, 1989. "The Effect of Land-Use Restrictions on Market Values of Single-Family Homes in Houston," The Journal of Real Estate Finance and Economics, Springer, vol. 2(2), pages 117-30, June.
- Mark, Jonathan H. & Goldberg, Michael A., 1986. "A study of the impacts of zoning on housing values over time," Journal of Urban Economics, Elsevier, vol. 20(3), pages 257-273, November.
- Frech, H. III & Lafferty, Ronald N., 1984. "The effect of the California Coastal Commission on housing prices," Journal of Urban Economics, Elsevier, vol. 16(1), pages 105-123, July.
- 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.
- Wallace, Nancy E., 1988. "The market effects of zoning undeveloped land: Does zoning follow the market?," Journal of Urban Economics, Elsevier, vol. 23(3), pages 307-326, May.
- McMillen Daniel P. & McDonald John F., 1993. "Could Zoning Have Increased Land Values in Chicago?," Journal of Urban Economics, Elsevier, vol. 33(2), pages 167-188, March.
- McDonald, John F & McMillen, Daniel P, 1998. "Land Values, Land Use, and the First Chicago Zoning Ordinance," The Journal of Real Estate Finance and Economics, Springer, vol. 16(2), pages 135-50, March.
- Daniel P. McMillen & John F. McDonald, 2002. "Land Values In A Newly Zoned City," The Review of Economics and Statistics, MIT Press, vol. 84(1), pages 62-72, February.
- Crone, Theodore M., 1983. "Elements of an economic justification for municipal zoning," Journal of Urban Economics, Elsevier, vol. 14(2), pages 168-183, September.
- Gerrit J. Knaap, 1997. "The Price Effects of Urban Growth Boundaries in Metropolitan Portland, Oregon," Land Economics, University of Wisconsin Press, vol. 62(1), pages 26-35.
- Curran, Christopher & Schrag, Joel, 2000. "Does It Matter Whom an Agent Serves? Evidence from Recent Changes in Real Estate Agency Law," Journal of Law and Economics, University of Chicago Press, vol. 43(1), pages 265-84, April.
- Joseph Tracy & Henry Schneider & Sewin Chan, 1999. "Are stocks overtaking real estate in household portfolios?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 5(Apr).
- William Fischel, 1980. "Externalities and zoning," Public Choice, Springer, vol. 35(1), pages 37-43, January.
- White, James R., 1988. "Large lot zoning and subdivision costs: A test," Journal of Urban Economics, Elsevier, vol. 23(3), pages 370-384, May.
- Henry O. Pollakowski & Susan M. Wachter, 1990. "The Effects of Land-Use Constraints on Housing Prices," Land Economics, University of Wisconsin Press, vol. 66(3), pages 315-324.
- Geltner, David & Riddiough, Timothy & Stojanovic, Srdjan, 1996. "Insights on the Effect of Land Use Choice: The Perpetual Option on the Best of Two Underlying Assets," Journal of Urban Economics, Elsevier, vol. 39(1), pages 20-50, January.
- Grieson, Ronald E. & White, James R., 1981. "The effects of zoning on structure and land markets," Journal of Urban Economics, Elsevier, vol. 10(3), pages 271-285, November.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:78:y:2002:i:1:p:28-44. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.