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Satellite-based measures of buildout and the effect of constrained housing supply on regional labour markets

Author

Listed:
  • Ryan Greenaway-McGrevy
  • Kade Sorensen

Abstract

We examine the impact of housing supply restrictiveness on regional adjustment to labour market shocks in New Zealand. To do so, we develop a measure of city-level housing supply restrictiveness that combines a novel satellite-based measure of suburban buildout with extant estimates of implicit regulation costs and geographic constraints on land. We incorporate the new measure of housing supply restrictiveness into an empirical model of regional adjustment that describes metropolitan labour and housing market outcomes. Our results show that after a positive labour market shock, regions with relatively restrictive housing supply experience lower employment and population growth; less housing construction; and greater increases in rents compared to regions with responsive housing supply.

Suggested Citation

  • Ryan Greenaway-McGrevy & Kade Sorensen, 2020. "Satellite-based measures of buildout and the effect of constrained housing supply on regional labour markets," Working Papers 004, University of Auckland, Economic Policy Center (EPC).
    • Handle: RePEc:cyc:wpaper:004
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    JEL classification:

    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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