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Skyscrapers and Skylines: New York and Chicago, 1885-2007

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  • Jason Barr

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Abstract

This paper compares and contrasts the determinants of the market for skyscrapers in Chicago and New York from 1885 to 2007, using annual time series data. I estimate the factors that determine both the number of skyscraper completions and the height of the tallest building completed each year in the two cities. I find that each city responds differently to the same economic fundamentals. Also, regressions test for and find the presence of strategic interaction across the two cities. I also estimate the effects of zoning regulations on height. Compared to New York, Chicago's zoning policies significantly reduced the height of its skyline.

Suggested Citation

  • Jason Barr, 2011. "Skyscrapers and Skylines: New York and Chicago, 1885-2007," Working Papers Rutgers University, Newark 2011-001, Department of Economics, Rutgers University, Newark.
  • Handle: RePEc:run:wpaper:2011-001
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    File URL: http://www.ncas.rutgers.edu/department-economics/workingpaper20111
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    1. repec:krk:eberjl:v:4:y:2016:i:2:p:37-49 is not listed on IDEAS
    2. repec:eee:touman:v:47:y:2015:i:c:p:107-114 is not listed on IDEAS
    3. Gabriel Ahlfeldt & Daniel McMillen, 2017. "Tall Building and Land Values: Height and Construction Cost Elasticities in Chicago, 1870 - 2010," CESifo Working Paper Series 6730, CESifo Group Munich.

    More about this item

    Keywords

    New York; Chicago; skyscrapers; building height;

    JEL classification:

    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets
    • N6 - Economic History - - Manufacturing and Construction
    • N9 - Economic History - - Regional and Urban History

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