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Title: The Sky is Not the Limit: The Macroeconomic Consequences of Commercial Zoning Laws

Citation Type: Working Paper

Publication Year: 2021

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Abstract: We use the universe of commercial property tax records to estimate the aggregate effects of commercial land use regulations on output and welfare. We introduce a method for identifying distortions at the address level, and then aggregating the distorted address-level problems into a city-level builder’s problem. We apply this method to commercial buildings using property tax records compiled by CoreLogic. We then incorporate the builder’s problem into a spatial general equilibrium model, and use it to assess the extent and impact of commercial zoning regulations. We find that even partial deregulations can produce significant gains.

Url: https://events.barcelonagse.eu/live/files/3333-kyleherkenhoff78854pdf

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Authors: Babalievsky, Fil; Herkenhoff, Kyle; Ohanian, Lee E.; Prescott, Edward C.

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Pages: 1-26

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Data Collections: IPUMS USA

Topics: Land Use/Urban Organization

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