全球智库信息集成服务系统(G2TT): DP11669 The Production Function for Housing: Evidence from France

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP11669
	DP11669 The Production Function for Housing: Evidence from France
	Pierre-Philippe Combes; Gilles Gilles Duranton; Laurent Gobillon
发表日期	2016-11-27
出版年	2016
语种	英语
摘要	We propose a new non-parametric approach to estimate the production function for housing. Our estimation treats output as a latent variable and relies on the first-order condition for profit maximisation with respect to non-land inputs by competitive house builders. For parcels of a given size, we compute housing by summing across the marginal products of non-land inputs. Differences in non-land inputs are caused by differences in land prices that reflect differences in the demand for housing across locations. We implement our methodology on newly-built single-family homes in France. We find that the production function for housing is reasonably well, though not perfectly, approximated by a Cobb-Douglas function and close to constant returns. After correcting for differences in user costs between land and non-land inputs and taking care of some estimation concerns, we estimate an elasticity of housing production with respect to non-land inputs of about 0.80.
主题	International Trade and Regional Economics
关键词	Housing Production function
URL	https://cepr.org/publications/dp11669
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/540483
推荐引用方式 GB/T 7714	Pierre-Philippe Combes,Gilles Gilles Duranton,Laurent Gobillon. DP11669 The Production Function for Housing: Evidence from France. 2016.