首页 > 最新文献

Journal of Urban Economics最新文献

英文 中文
The effects of residential zoning in U.S. housing markets 住宅分区对美国房地产市场的影响
IF 4.8 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-08-06 DOI: 10.1016/j.jue.2025.103784
Jaehee Song
I construct a new nationwide dataset to measure the stringency of residential zoning in the United States and examine its effects on housing production, prices, and demographic sorting. First, I develop and implement a structural break detection algorithm to infer minimum lot size regulations. The dataset spans over 16,000 local jurisdictions within Core-Based Statistical Areas, capturing both cross-jurisdictional and within-jurisdictional variation in zoning stringency. I find that 18.5 percent of single-family home constructions bunch at the minimum lot size threshold, suggesting that these zoning requirements are binding for a substantial share of single-family development. Second, I estimate the effects of these regulations on housing market outcomes, exploiting variation across nearby zoning districts within municipal border regions. The results show that minimum lot size regulations increase home sizes, sales prices, and rents. Moreover, restrictive zoning disproportionately attracts high-income white homeowners, reinforcing patterns of residential segregation.
我构建了一个新的全国性数据集来衡量美国住宅分区的严格程度，并检查其对住房生产、价格和人口分类的影响。首先，我开发并实现了一个结构断裂检测算法来推断最小批量规则。该数据集涵盖了以核心为基础的统计区域内的16,000多个地方管辖区，包括跨管辖区和辖区内分区严格程度的变化。我发现，18.5%的独户住宅建筑在最小地块规模的门槛上捆绑在一起，这表明这些分区要求对很大一部分独户住宅开发具有约束力。其次，我估计了这些法规对住房市场结果的影响，利用城市边界地区附近分区区的差异。结果显示，最小宅地面积限制增加了住宅面积、销售价格和租金。此外，限制性分区不成比例地吸引了高收入白人房主，强化了住宅隔离的模式。
{"title":"The effects of residential zoning in U.S. housing markets","authors":"Jaehee Song","doi":"10.1016/j.jue.2025.103784","DOIUrl":"10.1016/j.jue.2025.103784","url":null,"abstract":"<div><div>I construct a new nationwide dataset to measure the stringency of residential zoning in the United States and examine its effects on housing production, prices, and demographic sorting. First, I develop and implement a structural break detection algorithm to infer minimum lot size regulations. The dataset spans over 16,000 local jurisdictions within Core-Based Statistical Areas, capturing both cross-jurisdictional and within-jurisdictional variation in zoning stringency. I find that 18.5 percent of single-family home constructions bunch at the minimum lot size threshold, suggesting that these zoning requirements are binding for a substantial share of single-family development. Second, I estimate the effects of these regulations on housing market outcomes, exploiting variation across nearby zoning districts within municipal border regions. The results show that minimum lot size regulations increase home sizes, sales prices, and rents. Moreover, restrictive zoning disproportionately attracts high-income white homeowners, reinforcing patterns of residential segregation.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103784"},"PeriodicalIF":4.8,"publicationDate":"2025-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144780610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effect of subway policies on gasoline consumption: Subway expansion versus fare changes 地铁政策对汽油消费的影响：地铁扩张与票价变化
IF 4.8 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-30 DOI: 10.1016/j.jue.2025.103795
Antung A. Liu , Yucheng Wang , Lei Zhang
Investments in urban light rail are meant to replace driving and alleviate emissions from road transportation, but little research has documented the direct link between alternative subway policies and gasoline consumption, leaving it unclear which subway policies are more efficient. Based on a unique dataset from a major gasoline retailer in China, this paper compares the effect of expanding the subway network with that of revising the fare. We find that both subway expansion and the fare change significantly impact gasoline consumption in the short run, but the effect of expanding the subway network is larger and more durable. A cost–benefit calculation also finds that subway network expansion is more cost-effective in reducing driving than changing the fare.
投资城市轻轨是为了取代开车和减少公路交通的排放，但很少有研究证明替代地铁政策与汽油消耗之间的直接联系，因此不清楚哪种地铁政策更有效。本文基于中国某大型汽油零售商的独特数据集，比较了扩大地铁网络与调整票价的效果。研究发现，地铁扩建和票价变动对汽油消费的短期影响均显著，但扩建地铁网络对汽油消费的影响更大、更持久。成本效益计算还发现，地铁网络扩张在减少驾驶方面比改变票价更具成本效益。
{"title":"The effect of subway policies on gasoline consumption: Subway expansion versus fare changes","authors":"Antung A. Liu ,&nbsp;Yucheng Wang ,&nbsp;Lei Zhang","doi":"10.1016/j.jue.2025.103795","DOIUrl":"10.1016/j.jue.2025.103795","url":null,"abstract":"<div><div>Investments in urban light rail are meant to replace driving and alleviate emissions from road transportation, but little research has documented the direct link between alternative subway policies and gasoline consumption, leaving it unclear which subway policies are more efficient. Based on a unique dataset from a major gasoline retailer in China, this paper compares the effect of expanding the subway network with that of revising the fare. We find that both subway expansion and the fare change significantly impact gasoline consumption in the short run, but the effect of expanding the subway network is larger and more durable. A cost–benefit calculation also finds that subway network expansion is more cost-effective in reducing driving than changing the fare.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103795"},"PeriodicalIF":4.8,"publicationDate":"2025-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144723923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does rent control increase tenant unemployment? 租金管制会增加租客失业吗？
IF 4.8 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-30 DOI: 10.1016/j.jue.2025.103790
Hanchen Jiang , Luis Quintero , Xi Yang
This paper proposes and tests the hypothesis that rent control increases tenant unemployment. Using microdata from New York City between 2002 and 2017, we find that rent stabilization increases tenants’ probability of unemployment by more than four percentage points, and the effect is especially pronounced among tenants with unearned income. To address endogeneity concerns, we employ an instrumental variable strategy that exploits the local relative availability of rent-stabilized units at the time of move-in as an exogenous source of variation. We propose a job-search model to explain the disincentive channel underlying our results. These findings highlight the potential unintended consequences of rent control.
本文提出并检验了租金管制增加租客失业的假设。利用2002年至2017年纽约市的微观数据，我们发现租金稳定使租户失业的可能性增加了4个百分点以上，而且这种影响在有不劳而获收入的租户中尤为明显。为了解决内生性问题，我们采用了一种工具变量策略，利用搬进来时租金稳定单位的本地相对可用性作为外生变量来源。我们提出了一个求职模型来解释我们的结果背后的抑制渠道。这些发现凸显了租金管制可能带来的意想不到的后果。
{"title":"Does rent control increase tenant unemployment?","authors":"Hanchen Jiang ,&nbsp;Luis Quintero ,&nbsp;Xi Yang","doi":"10.1016/j.jue.2025.103790","DOIUrl":"10.1016/j.jue.2025.103790","url":null,"abstract":"<div><div>This paper proposes and tests the hypothesis that rent control increases tenant unemployment. Using microdata from New York City between 2002 and 2017, we find that rent stabilization increases tenants’ probability of unemployment by more than four percentage points, and the effect is especially pronounced among tenants with unearned income. To address endogeneity concerns, we employ an instrumental variable strategy that exploits the local relative availability of rent-stabilized units at the time of move-in as an exogenous source of variation. We propose a job-search model to explain the disincentive channel underlying our results. These findings highlight the potential unintended consequences of rent control.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103790"},"PeriodicalIF":4.8,"publicationDate":"2025-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144723924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Firms for funding: The effect of Million Dollar Plants on school finances and student achievement 资助公司：百万美元工厂对学校财政和学生成绩的影响
IF 4.8 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-30 DOI: 10.1016/j.jue.2025.103794
Rahul R. Gupta , Viviana Rodriguez
We study the impact of large firm entry on local public education by comparing school districts in counties that win a Million Dollar Plant (MDP) to runner-up counties. Winning an MDP increases school district revenues by approximately 3%, primarily through higher local property tax collections. While total per pupil revenue rises modestly, we find gains in instructional spending and small improvements in test scores. Effects vary by firm type: manufacturing MDPs are associated with greater capital outlays but limited achievement gains, whereas high-tech MDPs see increased instructional spending and improved proficiency. Districts with MDPs in highly educated industries exhibit larger increases in instructional spending and student outcomes, even when overall revenue gains are similar.
我们通过比较获得百万美元工厂（MDP）的县与获得百万美元工厂（MDP）的县的学区，来研究大公司进入对当地公共教育的影响。赢得民主党将使学区的收入增加约3%，主要是通过提高地方财产税的征收。虽然每个学生的总收入适度增长，但我们发现教学支出有所增加，考试成绩也有小幅提高。影响因公司类型而异：制造业发展中国家的发展中国家与更多的资本支出有关，但有限的成就收益，而高科技发展中国家则增加了教学支出，提高了熟练程度。在教育水平较高的行业，即使在总体收入增长相似的情况下，拥有最高发展目标的地区在教学支出和学生成绩方面的增长也更大。
{"title":"Firms for funding: The effect of Million Dollar Plants on school finances and student achievement","authors":"Rahul R. Gupta ,&nbsp;Viviana Rodriguez","doi":"10.1016/j.jue.2025.103794","DOIUrl":"10.1016/j.jue.2025.103794","url":null,"abstract":"<div><div>We study the impact of large firm entry on local public education by comparing school districts in counties that win a Million Dollar Plant (MDP) to runner-up counties. Winning an MDP increases school district revenues by approximately 3%, primarily through higher local property tax collections. While total per pupil revenue rises modestly, we find gains in instructional spending and small improvements in test scores. Effects vary by firm type: manufacturing MDPs are associated with greater capital outlays but limited achievement gains, whereas high-tech MDPs see increased instructional spending and improved proficiency. Districts with MDPs in highly educated industries exhibit larger increases in instructional spending and student outcomes, even when overall revenue gains are similar.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103794"},"PeriodicalIF":4.8,"publicationDate":"2025-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144723925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Housing booms and shirking 房地产繁荣和逃避
IF 5.7 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-16 DOI: 10.1016/j.jue.2025.103793
Quanlin Gu , Jia He , Wenlan Qian , Yuan Ren
This paper studies the effect of housing wealth shocks on workplace shirking. We use the type and actual time stamps of credit card transactions to detect non-work-related behavior during work hours. After a one-percentage-point increase in house prices, employed homeowners experienced a fast and persistent increase by 3.8 % per month in their propensity to use work hours to attend to personal needs. The post-shock response is more pronounced among homeowners with a greater wealth increase, with poorer career potential, or for occupations with higher monitoring costs.
本文研究了住房财富冲击对职场逃避的影响。我们使用信用卡交易的类型和实际时间戳来检测工作时间内与工作无关的行为。在房价上涨1个百分点之后，有工作的房主在利用工作时间满足个人需求的倾向上经历了每月3.8%的快速持续增长。在财富增幅较大、职业潜力较差或监控成本较高的行业中，这种震后反应更为明显。
{"title":"Housing booms and shirking","authors":"Quanlin Gu ,&nbsp;Jia He ,&nbsp;Wenlan Qian ,&nbsp;Yuan Ren","doi":"10.1016/j.jue.2025.103793","DOIUrl":"10.1016/j.jue.2025.103793","url":null,"abstract":"<div><div>This paper studies the effect of housing wealth shocks on workplace shirking. We use the type and actual <em>time stamps</em> of credit card transactions to detect non-work-related behavior during work hours. After a one-percentage-point increase in house prices, employed homeowners experienced a fast and persistent increase by 3.8 % per month in their propensity to use work hours to attend to personal needs. The post-shock response is more pronounced among homeowners with a greater wealth increase, with poorer career potential, or for occupations with higher monitoring costs.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103793"},"PeriodicalIF":5.7,"publicationDate":"2025-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144633545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Strategies and consequences of local fiscal consolidation: Evidence from Germany 地方财政整顿的策略和后果：来自德国的证据
IF 5.7 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-16 DOI: 10.1016/j.jue.2025.103792
Melinda Fremerey , Andreas Lichter , Max Löffler
We investigate the consequences of a large-scale fiscal consolidation program for German municipalities. Identification relies on a difference-in-differences approach exploiting political discretion in the program’s assignment rule. We find that targeted jurisdictions improved their fiscal balance by EUR 190 per capita and year net of the program-induced grants. Local consolidation strategies differed significantly by population size, which we rationalize with agglomeration economies. Spending cuts and tax increases had little effect on the local economy. However, we detect declines in population levels and house prices as well as electoral backlash in smaller municipalities that disproportionally increased the property tax and cut spending on local public services.
我们调查了大规模财政整顿计划对德国市政当局的影响。识别依赖于差异中的差异方法，利用程序分配规则中的政治自由裁量权。我们发现，目标司法管辖区的人均财政平衡改善了190欧元，每年扣除项目诱导的赠款。地方整合策略因人口规模的不同而有显著差异，我们用集聚经济来合理化这一现象。削减开支和增加税收对当地经济影响不大。然而，我们发现了人口水平和房价的下降，以及小城市的选举反弹，这些城市不成比例地增加了财产税，削减了当地公共服务支出。
{"title":"Strategies and consequences of local fiscal consolidation: Evidence from Germany","authors":"Melinda Fremerey ,&nbsp;Andreas Lichter ,&nbsp;Max Löffler","doi":"10.1016/j.jue.2025.103792","DOIUrl":"10.1016/j.jue.2025.103792","url":null,"abstract":"<div><div>We investigate the consequences of a large-scale fiscal consolidation program for German municipalities. Identification relies on a difference-in-differences approach exploiting political discretion in the program’s assignment rule. We find that targeted jurisdictions improved their fiscal balance by EUR<!--> <!-->190 per capita and year net of the program-induced grants. Local consolidation strategies differed significantly by population size, which we rationalize with agglomeration economies. Spending cuts and tax increases had little effect on the local economy. However, we detect declines in population levels and house prices as well as electoral backlash in smaller municipalities that disproportionally increased the property tax and cut spending on local public services.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103792"},"PeriodicalIF":5.7,"publicationDate":"2025-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144633546","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rushing to opportunity: City growth and entrepreneurship 冲向机遇：城市成长与创业
IF 5.7 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-08 DOI: 10.1016/j.jue.2025.103783
Kristian Behrens , Nathan Seegert
The growth of many cities and industries differs, with some growing slowly and others experiencing rapid change—i.e., rushes. To explain these differences and explore the mechanisms of growth, we develop a model centered on a new trade-off between time-varying fundamentals and time-invariant – but rank-dependent – opportunities. Early population flows depend on the opportunities new entities provide, whether from available land in cities or the accumulation of entrepreneurship human capital in firms. Our model can explain the existence of rushes and their size. We provide suggestive empirical evidence on city- and industry growth consistent with the model’s predictions.
许多城市和行业的发展各不相同，有些增长缓慢，有些则经历了快速变化。,冲。为了解释这些差异并探索增长机制，我们开发了一个模型，该模型以时变基本面和时变（但依赖于排名）机会之间的新权衡为中心。早期的人口流动取决于新实体提供的机会，无论是来自城市的可用土地，还是来自企业的创业人力资本积累。我们的模型可以解释灯芯草的存在和它们的大小。我们提供了与模型预测一致的城市和行业增长的暗示性经验证据。
{"title":"Rushing to opportunity: City growth and entrepreneurship","authors":"Kristian Behrens ,&nbsp;Nathan Seegert","doi":"10.1016/j.jue.2025.103783","DOIUrl":"10.1016/j.jue.2025.103783","url":null,"abstract":"<div><div>The growth of many cities and industries differs, with some growing slowly and others experiencing rapid change—i.e., rushes. To explain these differences and explore the mechanisms of growth, we develop a model centered on a new trade-off between time-varying fundamentals and time-invariant – but rank-dependent – opportunities. Early population flows depend on the opportunities new entities provide, whether from available land in cities or the accumulation of entrepreneurship human capital in firms. Our model can explain the existence of rushes and their size. We provide suggestive empirical evidence on city- and industry growth consistent with the model’s predictions.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103783"},"PeriodicalIF":5.7,"publicationDate":"2025-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144572419","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The labor market outcomes of jurisdictional consolidation: Evidence from city–county mergers in China 管辖权合并对劳动力市场的影响：来自中国市县合并的证据
IF 5.7 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-04 DOI: 10.1016/j.jue.2025.103788
Shiyu Bo, Yi Wang
In this paper, we examine the labor market outcomes of jurisdictional consolidation, focusing on the effect of city–county mergers in China between 2011 and 2018 on the wages of migrant workers and local residents. Under the merger reform, city districts were consolidated with nearby counties, expanding the jurisdiction under the centralized control of the prefecture government. Using a staggered difference-in-differences approach, we find that wages increased by 3.1% for migrant workers and 10.4% for local residents in consolidated jurisdictions. We attribute these effects to local economic growth and the resulting differentiated labor demand for migrant and local workers.
在本文中，我们考察了管辖权整合的劳动力市场结果，重点研究了2011年至2018年中国市县合并对农民工和当地居民工资的影响。在合并改革中，市辖区与附近的县合并，扩大了地府集中控制下的管辖范围。使用交错差中差方法，我们发现在合并辖区，外来务工人员的工资增长了3.1%，当地居民的工资增长了10.4%。我们将这些影响归因于当地经济增长以及由此产生的对外来务工人员和本地工人的差异化劳动力需求。
{"title":"The labor market outcomes of jurisdictional consolidation: Evidence from city–county mergers in China","authors":"Shiyu Bo,&nbsp;Yi Wang","doi":"10.1016/j.jue.2025.103788","DOIUrl":"10.1016/j.jue.2025.103788","url":null,"abstract":"<div><div>In this paper, we examine the labor market outcomes of jurisdictional consolidation, focusing on the effect of city–county mergers in China between 2011 and 2018 on the wages of migrant workers and local residents. Under the merger reform, city districts were consolidated with nearby counties, expanding the jurisdiction under the centralized control of the prefecture government. Using a staggered difference-in-differences approach, we find that wages increased by 3.1% for migrant workers and 10.4% for local residents in consolidated jurisdictions. We attribute these effects to local economic growth and the resulting differentiated labor demand for migrant and local workers.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103788"},"PeriodicalIF":5.7,"publicationDate":"2025-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144549677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Colonial legacy and land market formality 殖民遗产和土地市场形式
IF 5.7 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-02 DOI: 10.1016/j.jue.2025.103789
Mariaflavia Harari , Maisy Wong
We study the role of Dutch colonial institutions on urban development for the megacity of Jakarta, Indonesia. Using historical maps of Dutch settlements and a rich granular database, we implement a boundary discontinuity design comparing locations on either side of Dutch boundaries. We find that historical Dutch areas today have significantly lower parcel density, are more likely to have formally registered parcels, and have more regular parcel layout, pointing to the importance of planning and cadastral mapping. Dutch settlements are also more likely to appear formal, as per a photographic index that ranks the appearance of neighborhoods. We highlight the role of land market institutions over alternative channels, such as direct Dutch investments or natural advantage.
我们研究了荷兰殖民机构在印度尼西亚雅加达特大城市城市发展中的作用。利用荷兰定居点的历史地图和丰富的颗粒数据库，我们实现了边界不连续设计，比较了荷兰边界两侧的位置。我们发现，历史上的荷兰地区今天的地块密度明显较低，更有可能有正式注册的地块，并且有更规则的地块布局，这表明规划和地籍测绘的重要性。根据一份对社区外观进行排名的照片索引，荷兰人的定居点也更有可能显得正式。我们强调土地市场机构在其他渠道（如荷兰直接投资或自然优势）中的作用。
{"title":"Colonial legacy and land market formality","authors":"Mariaflavia Harari ,&nbsp;Maisy Wong","doi":"10.1016/j.jue.2025.103789","DOIUrl":"10.1016/j.jue.2025.103789","url":null,"abstract":"<div><div>We study the role of Dutch colonial institutions on urban development for the megacity of Jakarta, Indonesia. Using historical maps of Dutch settlements and a rich granular database, we implement a boundary discontinuity design comparing locations on either side of Dutch boundaries. We find that historical Dutch areas today have significantly lower parcel density, are more likely to have formally registered parcels, and have more regular parcel layout, pointing to the importance of planning and cadastral mapping. Dutch settlements are also more likely to appear formal, as per a photographic index that ranks the appearance of neighborhoods. We highlight the role of land market institutions over alternative channels, such as direct Dutch investments or natural advantage.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103789"},"PeriodicalIF":5.7,"publicationDate":"2025-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144523101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effects of macroprudential policy restricting housing investor credit supply 宏观审慎政策限制住房投资者信贷供给的效果
IF 5.7 1区 经济学 Q1 ECONOMICS
Journal of Urban Economics
Pub Date : 2025-07-02 DOI: 10.1016/j.jue.2025.103785
Christian Gillitzer , Nalini Prasad
We study the effects on the housing market of two macroprudential policies in Australia restricting credit supply to residential housing investors. The first policy placed a bank-level cap on mortgage credit growth to investors. The second policy placed a bank-level cap on interest-only lending, which is predominantly used by investors. Both policies caused a large and sharp reduction in new investor lending relative to new owner-occupier lending. Using unit-record data on property sales and listings, we show that the restrictions on investor lending reduced the share of properties purchased by investors and reduced the relative price of properties in investor segments of the market. Our results demonstrate the potential efficacy of macroprudential policy restricting credit supply to investors.
本文研究了澳大利亚两项限制住房投资者信贷供应的宏观审慎政策对住房市场的影响。第一项政策规定了银行层面对投资者抵押贷款增长的上限。第二项政策对银行层面的只付息贷款设置了上限，这种贷款主要由投资者使用。这两项政策都导致新的投资者贷款相对于新的自住业主贷款大幅减少。利用房产销售和上市的单位记录数据，我们表明，对投资者贷款的限制减少了投资者购买房产的份额，并降低了市场投资者部分房产的相对价格。我们的研究结果证明了限制投资者信贷供应的宏观审慎政策的潜在功效。
{"title":"The effects of macroprudential policy restricting housing investor credit supply","authors":"Christian Gillitzer ,&nbsp;Nalini Prasad","doi":"10.1016/j.jue.2025.103785","DOIUrl":"10.1016/j.jue.2025.103785","url":null,"abstract":"<div><div>We study the effects on the housing market of two macroprudential policies in Australia restricting credit supply to residential housing investors. The first policy placed a bank-level cap on mortgage credit growth to investors. The second policy placed a bank-level cap on interest-only lending, which is predominantly used by investors. Both policies caused a large and sharp reduction in new investor lending relative to new owner-occupier lending. Using unit-record data on property sales and listings, we show that the restrictions on investor lending reduced the share of properties purchased by investors and reduced the relative price of properties in investor segments of the market. Our results demonstrate the potential efficacy of macroprudential policy restricting credit supply to investors.</div></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":"149 ","pages":"Article 103785"},"PeriodicalIF":5.7,"publicationDate":"2025-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144523100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
类型
全部 化学•材料 生命科学 医学 物理 工程技术 环境•农林 材料科学 地球科学 法学 管理学 化学 环境科学与生态学 计算机科学 教育学 经济学 农林科学 人文科学 生物学 数学 物理与天体物理 心理学 综合性期刊 其他 工业工程 理学 历史学 农学 文学 信息工程
数据库
全部 ACS Publications Elsevier ieeexplore Springer The Royal Society of Chemistry Wiley
期刊
Journal of Urban Economics
全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.
﹀
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们：info@booksci.cn
Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1