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来源类型Working Paper
规范类型报告
DOI10.3386/w23790
来源IDWorking Paper 23790
Tarnishing the Golden and Empire States: Land-Use Restrictions and the U.S. Economic Slowdown
Kyle F. Herkenhoff; Lee E. Ohanian; Edward C. Prescott
发表日期2017-09-11
出版年2017
语种英语
摘要This paper studies the impact of state-level land-use restrictions on U.S. economic activity, focusing on how these restrictions have depressed macroeconomic activity since 2000. We use a variety of state-level data sources, together with a general equilibrium spatial model of the United States to systematically construct a panel dataset of state-level land-use restrictions between 1950 and 2014. We show that these restrictions have generally tightened over time, particularly in California and New York. We use the model to analyze how these restrictions affect economic activity and the allocation of workers and capital across states. Counterfactual experiments show that deregulating existing urban land from 2014 regulation levels back to 1980 levels would have increased US GDP and productivity roughly to their current trend levels. California, New York, and the Mid-Atlantic region expand the most in these counterfactuals, drawing population out of the South and the Rustbelt. General equilibrium effects, particularly the reallocation of capital across states, accounts for much of these gains.
主题Macroeconomics ; Consumption and Investment ; Business Cycles ; Fiscal Policy ; Regional and Urban Economics ; Regional Economics
URLhttps://www.nber.org/papers/w23790
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/581464
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Kyle F. Herkenhoff,Lee E. Ohanian,Edward C. Prescott. Tarnishing the Golden and Empire States: Land-Use Restrictions and the U.S. Economic Slowdown. 2017.
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