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Paper eres2007_308:
A General Equilibrium Analysis of Land Use Restrictions and Residential Welfare (Quigley)

id eres2007_308
authors Quigley, John
year 2007
title A General Equilibrium Analysis of Land Use Restrictions and Residential Welfare (Quigley)
source 14th Annual European Real Estate Society Conference in London, UK
summary We consider the general equilibrium implications of land use restrictions which result in a reduction of otherwise profitable residential development. If the regulations affect a significant amount of land, they may have important effects on the rest of the regional economy -increasing rents and densities on lands not subject to the regulation, causing the conversion of lands from alternative uses, increasing the net developed area in the region, and decreasing consumer welfare. We develop a flexible general equilibrium simulation of the economic effects of land use restrictions, explicitly considering the distributional effects upon owners of different types of land and upon housing consumers. The results of our simulation show that the most significant economic effects of land use regulations occur outside of the designated area. The prices and rents of non-restricted lands increase significantly, and the well being of housing consumers is further affected through these linkages.
series ERES:conference
discussion No discussions. Post discussion ...
ratings
session Session G1: Housing and Land Use Models
last changed 2009/11/19 09:01
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