Land values in a newly zoned city

Daniel P. McMillen, John F. McDonald

Research output: Contribution to journalReview articlepeer-review

Abstract

The introduction of a new zoning ordinance to Chicago in 1923 offers a natural experiment that allows us to determine the effects of zoning on relative land-value growth rates. Policymakers claimed at the time that land-use zoning would raise aggregate land values by reducing negative externalities associated with mixed land use. After controlling for initial land use and the endogeneity of zoning decisions, we find that residential zoning led to higher land value growth rates than commercial zoning.

Original languageEnglish (US)
Pages (from-to)62-72
Number of pages11
JournalReview of Economics and Statistics
Volume84
Issue number1
DOIs
StatePublished - Feb 2002
Externally publishedYes

ASJC Scopus subject areas

  • Social Sciences (miscellaneous)
  • Economics and Econometrics

Fingerprint

Dive into the research topics of 'Land values in a newly zoned city'. Together they form a unique fingerprint.

Cite this