NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

A Dynamic Model of Demand for Houses and Neighborhoods

Patrick Bayer, Robert McMillan, Alvin Murphy, Christopher Timmins

NBER Working Paper No. 17250
Issued in July 2011

---- Acknowledgements -----

This paper is a revised version of NBER Working Paper No. 17025. We would like to thank Kelly Bishop, Morris Davis, Ed Glaeser, Phil Haile, Aviv Nevo, participants at the Econometric Society Summer Meetings, NBER Summer Institute, Regional Science Annual Meetings, Stanford Institute for Theoretical Economics, and seminar participants at the University of Arizona, Duke, UBC, Georgetown, Minnesota, NYU, Northwestern, Ohio State, Queen’s, Rochester, St. Louis Federal Reserve, and Yale for many valuable suggestions. Co-editor Jean-Marc Robin and three anonymous referees provided numerous comments that have helped us improve the paper significantly. Thanks to Elliot Anenberg for excellent research assistance. Financial support from the National Science Foundation and SSHRC is gratefully acknowledged. All remaining errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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