A New Approach to Estimating the Production Function for Housing
提出一种灵活的新方法估计住房生产函数，将住房数量和价格视为潜在变量，基于宾夕法尼亚州阿勒格尼县新建住房数据，验证了方法的有效性，为城市经济学和公共财政研究提供实用工具。
Dating to the classic works of Alonso, Mills, and Muth, the production function for housing has played a central role in urban economics and local public finance. This paper provides a new flexible approach for estimating the housing production function which treats housing quantities and prices as latent variables. The empirical analysis is based on a comprehensive database of recently built properties in Allegheny County, Pennsylvania. We find that the new method proposed in this paper works well in the application and provides reasonable estimates for the underlying production function.