Gross rents and market values: Testing the implications of Tiebout's hypothesis |
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| Authors: | Jon C Sonstelie Paul R Portney |
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| Institution: | 1. University of California at Santa Barbara USA;2. University of California at Berkeley and Resources for the Future USA |
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| Abstract: | In this paper, we propose a new empirical test of the implications of the Tiebout hypothesis. The test we advance uses gross rent rather than market value as the dependent variable in the estimating equation; we argue that this improves upon the previous studies in several respects. We then explore the determinants of gross rent using a large sample of single-family dwellings in San Mateo County, California. |
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