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- handle: 10670/1.kfdglu
- halshs: halshs-03342578
- doi: 10.1086/715076
- WOS: 000685517100001
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info:eu-repo/semantics/altIdentifier/doi/10.1086/715076
info:eu-repo/semantics/OpenAccess
Mots-clés
Housing Production function R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R1 - General Regional Economics/R.R1.R14 - Land Use Patterns R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location/R.R3.R31 - Housing Supply and Markets R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location/R.R3.R32 - Other Spatial Production and Pricing AnalysisSujets proches
Urban housing Homes Slum clearance Housing needs Housing--Social aspects Houses Affordable housing ResidencesCiter ce document
Pierre-Philippe Combes et al., « The Production Function for Housing: Evidence from France », Archive ouverte de Sciences Po (SPIRE), ID : 10.1086/715076
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Résumé
We propose a new nonparametric approach to estimate the production function for housing. Our estimation treats output as a latent variable and relies on a first-order condition for profit maximization combined with a zero-profit condition. More desirable locations command higher land prices and, in turn, more capital to build houses. For parcels of a given size, we compute housing production by summing across the marginal products of capital. For newly built single-family homes in France, the production function for housing is close to constant returns and is well, though not perfectly, approximated by a Cobb-Douglas function with a capital elasticity of 0.65.