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Understanding housing: The intellectual legacy of John Quigley

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  • Glaeser, Edward L.
Abstract
John Quigley was an important and beloved figure in housing and urban economics who died in 2012, but many non-specialists are only dimly aware of his contributions. This essay surveys his intellectual legacy, beginning with his early work with John Kain. Their research pioneered the application of hedonic price models to housing micro-data, and kicked off a literature that asked whether housing market discrimination led African-Americans to pay more for equivalent units. Over four decades, Quigley continued to develop housing price models, championing a hybrid approach that used both repeat sales and other transactions. Together with Robert Van Order, Quigley developed empirical tests of rational mortgage default and prepayments. Their work found that frictionless models are often rejected by the data. Quigley's work on green buildings documented their high economic returns; his work on homelessness pointed to high housing prices and overly restrictive supply regulations. Together with Karl Case and Robert Shiller, Quigley demonstrated the strong effects of housing wealth on consumption.

Suggested Citation

  • Glaeser, Edward L., 2014. "Understanding housing: The intellectual legacy of John Quigley," Regional Science and Urban Economics, Elsevier, vol. 47(C), pages 3-12.
    • Handle: RePEc:eee:regeco:v:47:y:2014:i:c:p:3-12
    DOI: 10.1016/j.regsciurbeco.2014.07.008
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    References listed on IDEAS

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    1. John M. Quigley, 1991. "MARKET INDUCED AND GOVERNMENT MANDATED ENERGY CONSERVATION IN THE HOUSING MARKET: Econometric Evidence from the U.S," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 3(1), pages 28-38, January.
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    42. Quigley, John M, 1987. "Interest Rate Variations, Mortgage Prepayments and Household Mobility," The Review of Economics and Statistics, MIT Press, vol. 69(4), pages 636-643, November.
    43. John M. Quigley & Steven Raphael & Eugene Smolensky, 2001. "Homeless In America, Homeless In California," The Review of Economics and Statistics, MIT Press, vol. 83(1), pages 37-51, February.
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    50. David Huffman & John M. Quigley, 2002. "The role of the university in attracting high tech entrepreneurship: A Silicon Valley tale," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 36(3), pages 403-419.
    51. Roland Andersson & John M. Quigley & Mats Wilhelmsson, 2005. "Agglomeration and the spatial distribution of creativity," Papers in Regional Science, Wiley Blackwell, vol. 84(3), pages 445-464, August.
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    56. Hwang Min & Quigley John M. & Woodward Susan E., 2005. "An Index For Venture Capital, 1987-2003," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 4(1), pages 1-43, November.
    57. Vassilis Lekkas & John M. Quigley & Robert Van Order, 1993. "Loan Loss Severity and Optimal Mortgage Default," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 21(4), pages 353-371, December.
    58. Eric Clapham & Peter Englund & John M. Quigley & Christian L. Redfearn, 2006. "Revisiting the Past and Settling the Score: Index Revision for House Price Derivatives," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 34(2), pages 275-302, June.
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    66. Englund, Peter & Quigley, John M & Redfearn, Christian L, 1999. "The Choice of Methodology for Computing Housing Price Indexes: Comparisons of Temporal Aggregation and Sample Definition," The Journal of Real Estate Finance and Economics, Springer, vol. 19(2), pages 91-112, September.
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