摘要:We model residential land use constraints as the outcome of a political economy
game between owners of developed and owners of undeveloped land. Land use
constraints are interpreted as shadow taxes that increase the land rent of
already developed plots and reduce the amount of new housing developments. In
general equilibrium, locations with nicer amenities are more developed and, as a
consequence, more regulated. We test our model predictions by geographically
matching amenity, land use, and historical Census data to metropolitan area
level survey data on regulatory restrictiveness. Following the predictions of
the model, we use amenities as instrumental variables and demonstrate that
metropolitan areas with better amenities are more developed and more tightly
regulated than other areas. Consistent
关键词:Land use regulations, zoning, land ownership, housing supply