title: Rethinking the Economics of Land and Housing
author:  Josh Ryan-Collins 
description: <DIV>&ldquo;A lucid and convincing explanation of why a free-market approach to the land problem makes little sense; why the state needs to intervene; and of the wide range of policy options available. Economics is evolving and this crucial book is a key part of its transformation.&rdquo;</DIV> (Danny Dorling, author of All That Is Solid: How the Great Housing Disaster Defines Our Times)<br /><br /><DIV>&ldquo;A lucid exposition of the dysfunctional British housing market.&rdquo;</DIV> (Best Books of 2017 <i>Financial Times</i>)<br /><br /><DIV>&ldquo;This excellent book is both thorough and comprehensive. I am convinced that it will quickly become an important reference for the general public and for economists, and hopefully also for policymakers.&rdquo;</DIV> (Michael Kumhof, Senior Research Advisor, Bank of England)<br /><br /><DIV><P>&ldquo;This excellent book on the economic role of land is both thorough and comprehensive. I am convinced that it will quickly become an important reference for the general public and for economists, and hopefully also for policymakers.&rdquo;</P></DIV> (Michael Kumhof, Senior Research Advisor, Bank of England)<br /><br /><DIV>&ldquo;This is an admirable book. It provides a powerful critique of the UK&rsquo;s failed policies towards land and housing and it sets out an ambitious but credible set of alternatives which merit serious debate. But it also offers a critique of the inadequate treatment of land and housing by mainstream economics that can travel far beyond the UK.&rdquo;</DIV> (<i>LSE Review of Books</i>)<br /><br /><DIV>&ldquo;A calm, clear, seemingly fair review of the role of land in economic theory and economic reality, and how&#160;skyrocketing land values have in recent decades come to&#160;shape&#160;and perhaps misshape the global economy. At the end, when the authors get to recommendations, you may be taken&#160;aback by some of the things they have in mind. But that&#39;s all the more reason to read the book. . . . [I]t is the book that did the most to alter my perception of the world.&rdquo;</DIV> (Must-Reads of 2017 <i>Bloomberg</i>)<br /><br /><DIV>&ldquo;Land policy is the missing issue in any discussion on planning, development, and the property market. This book is therefore long overdue. It returns land to its central role in both economic theory and in built environment discourses.&rdquo;<BR /><BR /> &#160;</DIV> (Duncan Bowie, author of Radical Solutions to the Housing Supply Crisis)<br /><br /><DIV>&ldquo;Analyzes the subject with excellent clarity. Read it and you will understand the crucial underlying drivers of rising debt, increasing inequality, and financial crises.&rdquo;</DIV> (Adair Turner, Chairman of the Institute of New Economic Thinking)<br /><br /><DIV>&ldquo;Lucid and convincing . . . Economics is evolving and this crucial book is a key part of its transformation.&rdquo;</DIV> (Danny Dorling, author of All That Is Solid: How the Great Housing Disaster Defines Our Times)<br /><br /><DIV>&ldquo;This book takes a fresh and comprehensive look at the problems created by a failure to consider the role of land in the economy of the United Kingdom.&#160; It proposes a wide range of solutions that policymakers should consider.&rdquo;<BR /><BR /> &#160;</DIV> (Kate Barker, author of the Barker Review of UK Housing Supply)
zlib_text: i 
   
  Fertility and Housing Market: Australian Evidence 
   
  By 
  Ang Li 
   
  Thesis  
  Submitted in fulfillment of the requirements for the  
  Degree of Doctor of Philosophy  
   
  School of Economics  
  Faculty of Arts and Social Science 
  University of Sydney 
  Mar 2018 
   
  
  ii 
   
  Declaration 
   
  Statement of Originality 
  I certify that the intellectual content of this thesis is the product of my own work and that all 
  the assistance received in preparing this thesis and sources have been acknowledged. 
   
   
  Authorship Attribution Statement 
  Chapter Three, “Fertility and Housing Wealth”, was the basis of a journal article co-authored 
  with Professor Stephen Whelan and Dr. Kadir Atalay that has been submitted for publication.  
  I wrote the initial draft of the paper and was primarily responsible for the empirical analysis.  
   
   
   
  Signature:  
  Name:   Ang Li 
   
   
  
  iii 
   
  Acknowledgments 
   
  I would like to express my deep appreciation to my supervisor, Stephen Whelan, who taught 
  me the meaning of qua