Affordable Housing and City Welfare

Jack Favilukis, Pierre Mabille, Stijn Van Nieuwerburgh

NBER Working Paper No. 25906
Issued in May 2019

---- Acknowledgments ----

We thank Hae-Kang Lee for superb research assistance. We thank John Humphries, Timothy McQuade, Adam Guren, Charles Nathanson (discussants), and Morris Davis for valuable comments. We have benefited from participants at the 2018 Society for Economic Dynamics conference in Mexico City, the Urban Economics Association conference at Columbia University, the 2019 American Economic Association in Atlanta, the Macro Finance Society meeting at Kellogg, the Conference on Low-Income Housing Supply and Housing Affordability in Madrid, and seminar participants at the University of Miami, Columbia GSB, Atlanta Fed and Emory University, NYU Stern, University of Connecticut, University of Luxembourg, John's Hopkins University, PUC in Santiago, Boston College, London Business School, and the San Francisco Federal Reserve Bank. 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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