A New Approach to Estimating Equilibrium Models for Metropolitan Housing Markets
提出一种新估计方法，用于分析住房质量差异下的大都市住房市场均衡模型，并以芝加哥和纽约为例估计了不同质量等级的住房价格函数、存量及跨城市补偿差异。
We provide a new estimator for a broad class of equilibrium models of metropolitan housing markets with housing differentiated by quality. Quality is a latent variable that captures all features of a dwelling and its environment. We estimate the model for Chicago and New York, obtaining hedonic housing price functions for each quality level for each metropolitan area, stocks of each quality, and compensating variations required for a household of a given income in Chicago to be equally well off in New York.