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Accurate estimates of housing demand elasticities are useful not only for housing forecasts and policies, but also for analyzing such diverse issues as the burden of property taxes and the suburbanization of metropolitan areas. However, despite voluminous empirical studies, estimates vary widely on the responsiveness of the demand for housing with respect to changes in permanent (or long-run expected) income and housing price.' These differences have arisen largely from the use of grouped rather than micro household observations in the cross-section
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Papers that cite the same references — the relational fallback while embeddings are still backfilling.
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