Urban Growth Boundary and Housing Prices: The Case of Knox County, Tennessee +

摘要: This study tests the hypothesis that a higher present value of expected rental stream undeveloped land in urban growth area influences effect Urban Growth Boundary (UGB) on values newly developed houses Knoxville and Knox County, Tennessee. We estimate version Box-Cox (BC) transformed hedonic housing price model, which accommodates both non-normality heteroskedasticity stochastic error term. The finding this verifies premise after implementation UGB are likely to be within than those outside, all other things equal.