Tag Archives: Land

Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market

From Nathanson and Zwick: This paper incorporates speculation into the standard supply-and-demand framework used to analyze housing booms and busts. Speculation reverses the common intuition that elastic housing supply attenuates housing booms. Housing market frictions make land a more attractive … Continue reading

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Luck, Wealth, & Inequality

From Joseph Ferrie and Hoyt Bleakley: The state of Georgia allocated most of its land to the public through a system of lotteries. These episodes provide unusual opportunities to assess the long-term impact of large shocks to wealth, as winning was … Continue reading

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