THE ROLE OF INFRASTRUCTURE IN THE SUPPLY OF HOUSING*
研究了城市住房存量增加时基础设施供给的规模报酬递减如何导致可开发土地价格上涨，并利用美国城市数据发现土地价格未随建设量增加而上升，住房供给价格弹性无限大。
ABSTRACT As the housing stock in a city is duplicated, developers must devote greater amounts of resources to the provision of infrastructure. If the production of infrastructure is characterized by decreasing returns to scale, this will cause the price of developable land to increase. The conditions under which an upward‐sloping supply curve for housing will result are discussed. Using cross‐sectional data for U.S. cities from 1973 to 1982, it is shown that land prices fail to increase with the quantity of construction and that the price elasticity of the supply of housing is infinite.