scholarly journals A Housing Supply Absorption Rate Equation

Author(s):  
Cameron K. Murray
2020 ◽  
Author(s):  
Cameron Murray

What is the optimal rate of new housing supply? We answer this question with a simple model of new housing supply where the choice variable is the rate of new housing lot sales. This model is informed by the cost-side assumptions of the static equilibrium model but allows for demand for home-buying to vary over time. It differs from static models of housing production equilibrium by assuming that landowners hold land assets that are sold in asset markets to create new supply. Landowners maximise the present value of their balance sheet by choosing a rate of new housing lot sales, accounting for the effect on asset price growth from their sales in a housing market of finite depth. The resulting absorption rate equation has radically different parameter effects compared to the popular static housing density model. Constraints on density, for example, increase the optimal rate of supply by reducing the return to delaying development. Interest rates, land value tax rates, and demand growth, positively relate to the optimal rate of supply. The policy lessons are (1) the relationship between demand growth and the optimal supply rate limits the ability for market supply to reduce prices, and (2) increasing the cost to delaying housing development is the primary way to increase the market rate of housing supply.


2007 ◽  
Vol 103 (1) ◽  
pp. 60-65 ◽  
Author(s):  
Tomochika Mizuma ◽  
Akiko Tomita ◽  
Atsushi Kitaoka ◽  
Yoshifumi Kiyokawa ◽  
Yoshinori Wakai

1997 ◽  
Vol 77 (05) ◽  
pp. 0944-0948 ◽  
Author(s):  
Darla Liles ◽  
Charles N Landen ◽  
Dougald M Monroe ◽  
Celeste M Lindley ◽  
Marjorie s Read ◽  
...  

SummaryCurrent therapy for hemophilia B requires large intravenous doses of factor IX (F.IX) given in the clinic or at home. Although home therapy is possible for many patients, it is often complicated by factors such as the lack of good venous access. Very little is known about extravascular routes for administering proteins like F.IX (57 kD) or other vitamin K-dependent procoagulant factors into the circulation. Questions about the absorption rate from extravascular administration as well as plasma recovery and bioavailability have arisen recently with the growing availibility of highly purified procoagulant proteins and increased interest in gene therapy of hemophilia B. Therefore, a group of studies were undertaken to determine the absorption rate, plasma recovery, and bioavailability of high purity, human plasma-derived F.IX concentrates administered via extravascular routes in hemophilia B dogs and in one human hemophilia B subject. Five hemophilia B dogs were given human F.IX via either a subcutaneous (SC), intramuscular (IM), intra- peritoneal (IP) or intravenous (IV) route. In a subsequent study, a single SC administration of human F.IX was compared to an identical IV dose of F.IX in the human hemophilia B subject. All extravascular routes of F.IX administration in both the canine and human gave lower levels of circulating plasma F.IX than the IV route, however all routes resulted in measurable F.IX activity. Of the extravascular routes, the IM injection in the canine resulted in a bioavailibility of 82.8%, while the SC injection resulted in a bioavailability of 63.5%. F.IX reached the plasma compartment by all extravascular routes used, confirming that F.IX can be absorbed extravascularly. The duration of measurable F.IX activity following extravascular administration is prolonged beyond that typically seen with IV administration. These data show that significant levels of F.IX may be obtained via SC injection in canine and ‘ human hemophilia B subjects and further highlight the potential of extravascular routes of administration for future experimental and clinical uses of F.IX and other procoagulant proteins.


1968 ◽  
Vol 29 (2) ◽  
pp. 308-312
Author(s):  
Ronald G. Elmslie ◽  
Nanette Harvey

2015 ◽  
Vol E98.B (7) ◽  
pp. 1173-1181 ◽  
Author(s):  
Akihiro TATENO ◽  
Tomoaki NAGAOKA ◽  
Kazuyuki SAITO ◽  
Soichi WATANABE ◽  
Masaharu TAKAHASHI ◽  
...  

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