Tall Buildings and Land Values: Height and Construction Cost Elasticities in Chicago, 1870–2010
利用芝加哥140年的高楼数据和土地价格面板数据，估计了土地价格对建筑高度的弹性、高度对建造成本的弹性以及土地与资本之间的替代弹性，发现土地价格弹性随时间显著增加且商业建筑高于住宅建筑。
Abstract Despite unprecedented vertical growth in large cities, the economics of skyscrapers remain understudied. We combine data on tall buildings with a panel of land prices covering 140 years to analyze the determinants of urban heights. We provide estimates of the land price elasticity of height, the height elasticity of construction cost, and the elasticity of substitution between land and capital for tall buildings. The land price elasticity of height increased substantially over time, and it is larger for commercial than for residential buildings, which suggests that the supply side helps to produce the typical segregation of urban land uses.