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Simulation of Housing Market Dynamics
Author(s) -
Kain John F.,
Apgar William C.
Publication year - 1979
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.t01-23-00201
Subject(s) - population , economics , economic geography , economic growth , regional science , geography , sociology , demography
Developed over the past decade by the Urban Studies Croup of the National Bureau of Economic Research, the NBER Urban Simulation Model is primarily a model of the urban housing market. It represents other urban phenomena such as industrial location, transportation systems, and changes in the demographic structure of the population, but the behavior of the housing “market” is its central focus. This paper provides a brief description of the NBER Urban Simulation Model and presents illustrative results from a series of baseline simulations for the period 1960 to 1970 for the Chicago and Pittsburgh SMSAs.