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Housing Investment Housing Consumption
On the Determinants of the Probability of First
A Microeconometric Analysis of Vacant
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1977 First-Homeowners allocation alternative amenity AMMORT analysis Annual Housing Survey arc elasticity asking-rents assume average capital central city characteristics competitive equilibrium consumers consumption Cumulative Cumulative demand density Dependent Variable differences divisible commodities dwelling unit effect efficient Ellickson equal equation estimated example first-homeownership flow Frequency Frequency Percent Frequency Percent Percent given homeowners homeownership hours-worked household housing investment housing services Housing Survey Data hypercongested impact income increase individual labor labor-market activity labor-supply landlords liability rules likelihood function marginal market-good maximization Mean Median mortgage negative neighborhood optimal owner owner-occupied owner-occupied housing parameters Pareto optimality period Pigovian Taxes polluter portfolio production recurring renters region rent rental sample Samuelson conditions smoke status subset substitution effect supply Survey Data Base Table theory Tiebout equilibrium Tiebout model TINC transactions costs U.S. tax system Urban Economics utility function vacancies variables vector wage zero