TY - JOUR
T1 - A general equilibrium spatial model of housing quality and quantity
AU - Arnott, Richard
AU - Braid, Ralph
AU - Davidson, Russell
AU - Pines, David
N1 - Funding Information:
Funding for this research from the Canada Mortgage and Housing Corporation and the Foerder Institute for Economic Research, as well as helpful comments from Konrad Stahl and two referees, are gratefully acknowledged.
PY - 1999/5/1
Y1 - 1999/5/1
N2 - This paper examines the properties of stationary-state general equilibrium in a monocentric city with durable housing. On the demand side, identical households choose location, housing quality and quantity (floor area), and other goods. On the supply side, developers choose the structural density and time path of quality (which depends on construction quality and maintenance) of buildings. Under a certain set of assumptions, existence and uniqueness of equilibrium are proved, and its comparative static/dynamic properties are determined.
AB - This paper examines the properties of stationary-state general equilibrium in a monocentric city with durable housing. On the demand side, identical households choose location, housing quality and quantity (floor area), and other goods. On the supply side, developers choose the structural density and time path of quality (which depends on construction quality and maintenance) of buildings. Under a certain set of assumptions, existence and uniqueness of equilibrium are proved, and its comparative static/dynamic properties are determined.
KW - Durable housing
KW - General equilibrium
KW - Monocentric city
KW - Stationary state
UR - http://www.scopus.com/inward/record.url?scp=0032979152&partnerID=8YFLogxK
U2 - 10.1016/S0166-0462(98)00035-0
DO - 10.1016/S0166-0462(98)00035-0
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AN - SCOPUS:0032979152
VL - 29
SP - 283
EP - 316
JO - Regional Science and Urban Economics
JF - Regional Science and Urban Economics
SN - 0166-0462
IS - 3
ER -
