The impact of human capital and housing supply on urban growth
Name
buchler-et-al-2023-the-impact-of-human-capital-and-housing-supply-on-urban-growth.pdf
Description
Accepted version
Size
393.04 KB
Format
Adobe PDF
Checksum (MD5)
29ba3018ae27a290b5425f7a2e7e8fb8
Author(s)
Büchler, Simon C
Niu, Dongxiao
Thompson, Anne K
Zheng, Siqi
Date Issued
February 2024
Journal
Urban Studies
Publisher
SAGE Publications
Citation
Büchler, S. C., Niu, D., Thompson, A. K., & Zheng, S. (2024). The impact of human capital and housing supply on urban growth. Urban Studies, 61(2), 214-230.
Version
Final published version
Abstract
We empirically analyse the impact of human capital and housing supply on urban growth in the US and China. Integrating the heterogeneity of housing supply helps determine how a positive human capital shock translates into more population, higher house prices, or higher wages. To causally estimate this effect, we use a rich urban-level data set, choose our controls using the post-double-selection methodology, and instrument human capital with the per capita number of historical educational institutions. We find that human capital positively impacts urban population, house price and wage growth. While an elastic housing supply reinforces the impact on urban growth, it reduces house price growth and wage growth. Our results infer that human capital increases productivity in both countries and acts as an amenity only in the US.
MIT Department
Massachusetts Institute of Technology. Center for Real Estate
Terms of Use
Creative Commons Attribution-Noncommercial
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1177/00420980231182074
