| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12355 |
| 来源ID | Working Paper 12355 |
| Superstar Cities | |
| Joseph Gyourko; Christopher Mayer; Todd Sinai | |
| 发表日期 | 2006-07-17 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | Differences in house price and income growth rates between 1950 and 2000 across metropolitan areas have led to an ever-widening gap in housing values and incomes between the typical and highest-priced locations. We show that the growing spatial skewness in house prices and incomes are related and can be explained, at least in part, by inelastic supply of land in some attractive locations combined with an increasing number of high-income households nationally. Scarce land leads to a bidding-up of land prices and a sorting of high-income families relatively more into those desirable, unique, low housing construction markets, which we label %u201Csuperstar cities.%u201D Continued growth in the number of high-income families in the U.S. provides support for ever-larger differences in house prices across inelastically supplied locations and income-based spatial sorting. Our empirical work confirms a number of equilibrium relationships implied by the superstar cities framework and shows that it occurs both at the metropolitan area level and at the sub-MSA level, controlling for MSA characteristics. |
| 主题 | Regional and Urban Economics ; Labor Economics ; Microeconomics ; Market Structure and Distribution ; History ; Other History |
| URL | https://www.nber.org/papers/w12355 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570012 |
| 推荐引用方式 GB/T 7714 | Joseph Gyourko,Christopher Mayer,Todd Sinai. Superstar Cities. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12355.pdf（381KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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