Recently I’ve run across a fascinating economics paper, Housing Constraints and Spatial Misallocation. The paper’s thesis contends that restrictive housing regulations depressed American economic growth by an eye-watering 36% between 1964 and 2009.
That’s a shockingly high figure but I found the arguments rather compelling. The paper itself now boasts over 500 citations. I’ve searched for rebuttals but only stumbled across a post by Bryan Caplan identifying a math error within the paper that led to an understatement(!) of the true economic toll.
This paper should be of great interest to anyone curious about housing regulation and zoning reform, Georgism, perhaps even The Great Stagnation of total factor productivity since the 70s. (Or just anyone who likes the idea of making thousands of extra dollars annually.)
If there’s interest, I’d like to write a full-length post diving deeper into this paper and examining its wider implications.
Georgists, mandatory parking minimum haters, and housing reform enthusiasts welcome!
Recently I’ve run across a fascinating economics paper, Housing Constraints and Spatial Misallocation. The paper’s thesis contends that restrictive housing regulations depressed American economic growth by an eye-watering 36% between 1964 and 2009.
That’s a shockingly high figure but I found the arguments rather compelling. The paper itself now boasts over 500 citations. I’ve searched for rebuttals but only stumbled across a post by Bryan Caplan identifying a math error within the paper that led to an understatement(!) of the true economic toll.
This paper should be of great interest to anyone curious about housing regulation and zoning reform, Georgism, perhaps even The Great Stagnation of total factor productivity since the 70s. (Or just anyone who likes the idea of making thousands of extra dollars annually.)
If there’s interest, I’d like to write a full-length post diving deeper into this paper and examining its wider implications.
I’d be interested in a full-length post delving deeper into it.