THE IMPACT OF STATE LAND-USECONTROLS ON RESIDENTIAL LAND VALUES |
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| Authors: | James D Shilling C F Sirmans Krisandra A Guidry |
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| Institution: | Department of Real Estate and Urban Land Economics, University of Wisconsin, Madison, WZ 53706;Department of Finance, Louisiana State University, Baton Rouge, LA 70803;Department of Finance, Nichols State University, Thibodaux, LA 70301 |
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| Abstract: | In this paper, we examine the effects of state land-use controls on the aggregate demand and supply of residential land. Previous studies have examined the effect of land-use regulation on housing prices using single-equation estimation. We estimate a three-equation intejurisdidional supply-demand model of land-use controls. Our results suggest that land-use regulations have a significant impact on both the demand and supply of residentid land as expected. |
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