How does the location of new jobs in a metropolitan area affect the suburban housing market? Economists expect job growth to increase the demand for housing, and furthermore , they expect the increase in demand to be greater in communities near the new jobs than in more distant ones. Moreover, growth in jobs with higher wages should increase the demand for housing more than growth in jobs with ...

This paper estimates a housing demand function from a four year panel study. The findings indicate that the income elasticity of housing demand is around .6 or .7 for owners and around .5 for renters. This means that the percentage of income spent on housing declines as income rises, and that the property tax falls more heavily on the poor than on the rich. This finding differs from earlier stu...

1 Tlie authoxs thank paitidpants at a seminar in Konstanz fox theii comments. Reraain-ing eirors are ours. The Cential Bureau of Statistics ptovided the data. Abstract We examine the effect of a rent subsidy program, Rent Assistance, on the demand for rental housing in The Netherlands. Low-income households with a rent that exceeds a norm rent, but is smaller than a maximum rent are eligible fo...

This paper estimates a Structural Dynamic Factor Model on a panel of 102 US quarterly series. We model economic comovements by means of 5 underlying structural shocks (oil price, productivity, aggregate demand, monetary policy, and housing demand). The results of the benchmark model (impulse responses and variance decompositions) are in line with those predicted by economic theory and usually e...

We study the extent to which responses in urban redevelopment density to demand shocks contribute to population growth, taking into account urban land expansions independent of demand shocks and changes in housing absorption by existing urban households. In the context of Chinese urban growth from 1998 to 2004 when liberalization in urban housing and labor markets significantly elevated labor m...

This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co-integrated money demand relationships can be established for both the euro area and the US. Furthermore, we find evidence for asset inflation channels, that is, liquid...