Hsieh-Moretti on Housing Regulation: A Gracious Admission of Error

Chang-Tai Hsieh and Enrico Moretti‘s “Housing Constraints and Spatial Misallocation” (American Economic Journal: Macroeconomics) is arguably the single most influential article ever published on housing regulation.  It also contains a few large miscalculations.

I noticed them a couple weeks ago, and Hsieh and Moretti have graciously confirmed the mistakes via email.  Since the gracious admission of error was always a rare bird, and practically went extinct circa 2016, I hope readers won’t judge ...