What is the effect of housing supply regulations on innovation? Just as innovation has become increasingly localized, restrictive local building policies are cited as the cause of skyrocketing housing prices in American cities; yet evidence is limited on the effect of such policies. …Read More
Improvements in information technology in recent decades has changed our lives and upended industries. One of its major impacts is to make previously inaccessible information accessible, reduce information asymmetries and improve market efficiencies.…Read More
This paper provides the first estimates of housing price movements for Beijing in late pre-modern China. We hand-collect from archival sources transaction prices and other house attribute information from the 498 surviving house sale contracts for Beijing during the first two centuries of the Qing Dynasty (1644-1840), a long period without major wars, political turmoil, or significant institutional change in the Chinese capital.…Read More
