| Record ID | marc_loc_2016/BooksAll.2016.part34.utf8:83655787:2251 |
| Source | Library of Congress |
| Download Link | /show-records/marc_loc_2016/BooksAll.2016.part34.utf8:83655787:2251?format=raw |
LEADER: 02251cam a22003017a 4500
001 2006619172
003 DLC
005 20060720094455.0
007 cr |||||||||||
008 060719s2006 mau sb 000 0 eng
010 $a 2006619172
040 $aDLC$cDLC$dDLC
050 00 $aHB1
100 1 $aGyourko, Joseph.
245 10 $aSuperstar cities$h[electronic resource] /$cJoseph Gyourko, Christopher Mayer, Todd Sinai.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2006.
490 1 $aNBER working paper series ;$vworking paper 12355
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 7/19/2006.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"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 "superstar cities." 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"--National Bureau of Economic Research web site.
700 1 $aMayer, Christopher
700 1 $aSinai, Todd
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 12355.
856 40 $uhttp://papers.nber.org/papers/w12355