Skyscrapers and Skylines: New York and Chicago, 1885-2007
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.
|Date of creation:||Oct 2011|
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