Office space supply restrictions in Britain: The political economy of market revenge

被引:61
作者
Cheshire, Paul C. [1 ]
Hilber, Christian A. L. [1 ]
机构
[1] London Sch Econ, London WC2A 2AE, England
基金
英国经济与社会研究理事会;
关键词
D O I
10.1111/j.1468-0297.2008.02149.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
Office space in Britain is the most expensive in the world and regulatory constraints are the obvious explanation. We estimate the 'regulatory tax' for 14 British and 8 continental European office locations. The values for Britain are substantially greater than elsewhere. Exploiting panel data, we provide strong support for our hypothesis that the regulatory tax varies according to local prosperity and its responsiveness to this depends on whether an area is controlled by business interests or residents. Our results also imply that the cost to office occupiers of the 1990 conversion of commercial property taxes from a local to a national basis exceeded any plausible rise in property taxes.
引用
收藏
页码:F185 / F221
页数:37
相关论文
共 34 条
[1]  
[Anonymous], 2006, BARKER REV LAND USE
[2]  
[Anonymous], 1989, READING CHRONIC 0512
[3]  
[Anonymous], 2000, REAL ESTATE INVESTME
[4]  
[Anonymous], 2004, REV HOUSING SUPPLY F
[5]  
Barker K., 2003, REV HOUSING SUPPLY S
[6]   Analyzing building-height restrictions: predicted impacts and welfare costs [J].
Bertaud, A ;
Brueckner, JK .
REGIONAL SCIENCE AND URBAN ECONOMICS, 2005, 35 (02) :109-125
[7]   Urban sprawl: Diagnosis and remedies [J].
Brueckner, JK .
INTERNATIONAL REGIONAL SCIENCE REVIEW, 2000, 23 (02) :160-171
[8]  
*CBRE, 2004, GLOB MARK RENTS
[9]   The introduction of price signals into land use planning decision-making: A proposal [J].
Cheshire, P ;
Sheppard, S .
URBAN STUDIES, 2005, 42 (04) :647-663
[10]   The welfare economics of land use planning [J].
Cheshire, P ;
Sheppard, S .
JOURNAL OF URBAN ECONOMICS, 2002, 52 (02) :242-269