期刊名称：HIER Discussion Paper Series / Harvard Institute of Economic Research
出版年度：2005
卷号：2005
出版社：Harvard Institute of Economic Research
摘要：Since 1950, housing prices have risen regularly by almost two percent per year.
Between 1950 and 1970, this increase reflects rising housing quality and
construction costs. Since 1970, this increase reflects the increasing difficulty
of obtaining regulatory approval for building new homes. In this paper, we
present a simple model of regulatory approval that suggests a number of
explanations for this change including changing judicial tastes, decreasing
ability to bribe regulators, rising incomes and greater tastes for amenities,
and improvements in the ability of homeowners to organize and influence local
decisions. Our preliminary evidence suggests that there was a significant
increase in the ability of local residents to block new projects and a change of
cities from urban growth machines to homeowners’ cooperatives
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