reference : Metropolitan land values

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Referenced Publication:
Bibliographic fields
reftype Journal Article
Abstract We estimate the first cross-sectional index of transaction-based land values for every U.S. metropolitan area. The index accounts for geographic selection and incorporates novel shrinkage methods using a prior belief based on urban economic theory. Land values at the city center increase with city size, as do land-value gradients; both are highly variable across cities. Urban land values are estimated at more than two times GDP in 2006. These estimates are higher and less volatile than estimates from residual (total - structure) methods. Five urban agglomerations account for 48 percent of all urban land value in the United States. JEL Codes: C43, R1, R3
Author Albouy, David; Gabriel Ehrlich; Minchul Shin
DOI 10.1162/REST_a_00710
Issue 3
Journal The Review of Economics and Statistics
Pages 454-466
Title Metropolitan land values
Volume 100
Year 2017
Bibliographic identifiers
_record_number 25599
_uuid d49de54d-2995-48f2-b874-12d25ae61f40