A New Approach to Estimating Equilibrium Models for Metropolitan Housing Markets

被引：5
|
作者：
Epple, Dennis [1 ,2 ]
Quintero, Luis [3 ]
Sieg, Holger [2 ,4 ]
机构：
[1] Carnegie Mellon Univ, Pittsburgh, PA 15213 USA
[2] Natl Bur Econ Res, Cambridge, MA 02138 USA
[3] Johns Hopkins Univ, Baltimore, MD 21218 USA
[4] Univ Penn, Philadelphia, PA 19104 USA
来源：
JOURNAL OF POLITICAL ECONOMY | 2020年 / 128卷 / 03期
基金：
美国国家科学基金会;
关键词：
PROPERTY; DEMAND; TAXES;
D O I：
10.1086/704755
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We provide a new estimator for a broad class of equilibrium models of metropolitan housing markets with housing differentiated by quality. Quality is a latent variable that captures all features of a dwelling and its environment. We estimate the model for Chicago and New York, obtaining hedonic housing price functions for each quality level for each metropolitan area, stocks of each quality, and compensating variations required for a household of a given income in Chicago to be equally well off in New York.
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页码：948 / 983
页数：36
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