THE EFFECT OF GASOLINE PRICES ON HOUSEHOLD LOCATION

• 成果类型: Article
• 署名作者: Molloy, Raven; Shan, Hui
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00331
• 发表日期: 2013-10
• 页码: 1212-1221
• 关键词: land

摘要

By raising commuting costs, an increase in gasoline prices should reduce the demand for housing in areas far from employment centers relative to locations closer to jobs. Using annual panel data on a large number of postal codes and municipalities from 1981 to 2008, we find that a 10% increase in gas prices leads to a 10% decrease in construction in locations with a long average commute relative to other locations but to no significant change in house prices. Thus, the supply response prevents the change in housing demand from capitalizing in house prices.