In the postwar era, developed economies have experienced two substantial trends in the net
capital share of aggregate income: a rise during the last several decades, which is well …

One can conceptualize a house as a bundle comprising a reproducible tangible structure
and a non-reproducible plot of land. When the value of a home is decomposed this way …

Inferences about the determinants of land prices in urban areas are typically based on
housing transactions, which combine payments for land and long-lived improvements. In …

Combining data from several sources, we build a database of home values, the cost of
housing structures, and residential land values for 46 large US metropolitan areas from …

In the United States, workers in cities offering above-average wages—cities with high
productivity, low quality of life, or inefficient housing sectors—pay 27 percent more in federal …

This paper is an empirical study of residential land values in the vicinity of the new elevated
transit line that runs the 11 miles from downtown Chicago to Midway Airport. The results …

This paper seeks to understand the importance of changes in the fundamental factors of
demand and supply, such as the urban hukou population, wage income, urban land supply …

Population density varies widely among US metro areas. A simple, static general equilibrium
model demonstrates that moderate differences in metro areas' consumption amenities can …

We use metro-level variation in land and structural input prices to test and estimate a
housing cost function with differences in local housing productivity. Both OLS and IV …

Distance gradients for the unit price of housing can only be estimated accurately from a
simple hedonic house value function if data are available on all housing characteristics. A …