Optimal investments to establish property rights in land
Article Abstract:
A model for the optimal investment in a land information system is presented. A society can be viewed as consisting of four economic agents: landowners, tenants, contingent claimants, and the government. The government has the responsibility of improving the cadastre, or the public inventory of data that provides a description of the properties within a jurisdiction based on a study of their boundaries. The model demonstrates that improvements in the cadastre improve property rights. Tenure insecurity is similar to a tax in that it causes housing prices to exceed the social cost of housing to compensate landlords for the likelihood of forfeiting their investment.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1991
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Agglomeration and land rents: evidence from the prefectures
Article Abstract:
A comparison of rates of agglomeration, or clustering, in the Japanese manufacturing and financial services industries is presented. Findings include the link between the agglomeration rate and prefectural land rent and wages, with a lower geographic spillover reach in financial services than in manufacturing.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1999
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