Suburban minimum lot zoning and spatial equilibrium
Article Abstract:
The consequences of suburban minimum lot zoning are investigated. A spatial, general equilibrium model of the residential economy in a semi-closed city with two income groups is developed. In this scenario, the rich reside in the suburbs and are covered by minimum lot size zoning while the poor live in the central city. Analysis shows that suburban minimum lot zoning increases the utility level of central city dwellers and depresses the land values except at the periphery. It is also revealed that suburban minimum lot zoning expands the metropolitan area as well as the central city. These findings support the notion that minimum lot zoning in the suburbs may be a critical contributor to the urban sprawl seen in many American cities.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1996
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The market effects of zoning undeveloped land: does zoning follow the market?
Article Abstract:
Local governments can alter the parameters of unconstrained real estate markets through zoning. An empirical test is offered of the null hypothesis that zoning follows the market. The difference between constrained and unconstrained market allocations is explored. It is demonstrated that hedonic price functions' parameter estimates do not show government regulations restricting market prices by means of zoning. A bid-price interpretation of hedonic price functions is also presented for land. It is suggested that hedonic price functions for zoned real estate markets may well be mis-specified unless they include 'correction' terms to allow for the non-random sample framework.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1988
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Large lot zoning and subdivision costs: a test
Article Abstract:
Two hypotheses are examined: that land subdivision expenses relate inversely to lot size, and that large lot zoning is a binding constraint on the land market for residences. Results show that generally, the two hypotheses are not mutually exclusive, but that it is possible to distinguish them in the case of a test held across tracts of vacant land which is not subdivided. A hedonic price model for vacant land is created and then estimated, using disaggregate information from the New York City suburb of Ramapo, NY. The 226 land parcels examined were sold between Jan 1976 and Aug 1982, ranging in size from one-eighth of an acre to about two acres.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1988
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