Edwin Mills
Edwin Mills

FINANCE
Professor Emeritus of Real Estate and Finance

Print Overview

Edwin S. Mills is the Emeritus Professor of Real Estate and Finance. Previously he was the Gary A. Rosenberg Professor Real Estate. He was also Professor of Economics at Princeton University, as well as the Gerald L. Phillippe Professor Urban Studies.

For 55 years, Professor Mills' teaching, research and writings have focused on real estate and urban economic development. He is the author of 20 books, including Urban Economics, currently in its 15th printing, and has more than 130 papers published. He was editor of the Journal of Urban Economics, co-editor of the Journal of Real Estate Finance and Economics, and was a member of the editorial board of the Journal of the American Real Estate and Urban Economics Association, and Review of Urban and Regional Development Studies.

In addition to his research on U.S. topics, Professor Mills has written about urban development in Japan, South Korea, India and Thailand. He has been a consultant to several government agencies, including the U.S. Navy, U.S. Public Health Service, and the U.S. Office of Science and Technology, the United Nations, the World Bank as well as to many private organizations.

He received his Bachelor's degree from Brown University and his Ph.D. from the University of Birmingham, England.

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Print Vita
Education
PhD, 1956, Economics, University of Birmingham, England
AB, 1951, Economics, Brown University, Magna Cum Laude

Academic Positions
Professor Emeritus of Real Estate and Finance, Finance, Kellogg School of Management, Northwestern University, 1996-present
Visiting Professor, American Economic Association Minority Program, June 2001 - July 2001, University of Colorado at Denver-2001
Lecturer in Urban Economics and Real Estate, Helsinki, Finland, Swedish School of Finance and Business-1999
Lecturer, Seoul, Korea, Korea Center for Free Enterprise-1998
Lecturer, Real Estate Program, Kellogg School of Management, Northwestern University, 1996-1998
Acting Director, Real Estate Program , Kellogg School of Management, Northwestern University, 1996-1997
Director, Real Estate Program July 1995 - September 1996, Kellogg School of Management, Northwestern University, 1995-1996
Professor of Real Estate and Finance, Real Estate Program, September 1994 - August 1996, Kellogg School of Management, Northwestern University, 1995-1996
Director, Real Estate Program, July 1988 - August 1994, Kellogg School of Management, Northwestern University, 1995-1996
Director, Center for Real Estate Research July 1988 - August 1994, Kellogg School of Management, Northwestern University, 1987-1996
Gary Rosenberg Distinguished Professor of Real Estate and Finance, Kellogg School of Management, July 1987 - August 1994, Northwestern University, 1987-1996
Teaching Staff, Taught Summer 1960, Summer 1962, Summer 1989, Summer 1995 and Summer 1996, Economics Institute, University of Colorado at Boulder, 1960-1996
Instructor, Taught February 1993, February 1994, February 1995, Economics Institute Jakarta, Indonesia, 1993-1995
Visiting Professor, SASIN Graduate Institute of Management, Chulalongkorn University, Bangkok, Thailand, 1989-1989
Professor of Economics, Department of Economics, Princeton, 1976-1987
Director of Graduate Studies, Department of Economics, Director 1980-1981, 1982-1985, Princeton, 1980-1987
Chairman, Department of Economics, Chair 1975-1977, Princeton, 1975-1987
Professor of Economics and Gerald L. Phillippe Professor of Urban Studies, July 1974 - June 1976, Woodrow Wilson School, Princeton, 1974-1987
Professor of Economics and Public Affairs and Gerald L. Phillippe Professor of Urban Studies, July 1970-June 1974, Woodrow Wilson School, Princeton, 1970-1987
Visiting Professor, Part time program, Wharton School, University of Pennsylvania, 1986-1986
Visiting Professor, Faculty of Commerce and Business Administration - July and August 1985, Urban Land Economics Division, University of British Columbia, 1985-1985
Visiting Professor, Taught January 1979, June 1979, May 1985, Beersheba, Israel, Ben Gurion University of Negev, 1979-1985
Lecturer, July 1984, Symposium on Microeconomic Theory, Beijing University, 1984-1984
Visiting Professor, May 1984, Haifa, Israel, Haifa University, 1984-1984
Chairman, July 1966-June 1969, Department of Political Economy, John Hopkins University, 1966-1970
Professor, Department of Political Economy, John Hopkins University, 1963-1970
Associate Professor, July 1960-June 1963, Department of Political Economy, John Hopkins University, 1960-1970
Assistant Professor, July 1957-June 1960, Department of Political Economy, John Hopkins University, 1957-1970
Instructor of Mathematical Economics and Econometrics, 1961-1962, 1962-1963, Board of Governors, Federal Reserve, Washington, DC, 1961-1963
Instructor, Department of Economics, Massachusetts Institute of Technology, 1955-1957
Assistant Lecturer in Mathematical Economics and Statistics, Department of Economics, University College of North Staffordshire (Now University of Keele), 1953-1955

Other Professional Experience
Director, Chicago Economic Observatory, 2006-present
Member, Beta Gamma Sigma, 1995-present
Consultant, World Bank-2006
Member, National Academy of Sciences, 1995-2000
Member, Metropolitan Planning Council, 1997-1998
Member, Board of Trustees, Northwestern CUED Institute, 1987-1998
Summer Research Fellow, University of Southern California-1997
Member National Council, Washington University, 1995-1996
External Examiner, National University of Singapore, 1992-1996
Member, Lincoln Institute, 1987-1996
Member, National Rural Studies Committee, 1987-1996
Member, Clark County Nevada, 1991-1995
Fellow, Home Hoyt Advanced Studies Institute, 1993-1995
Member, Lambda Alpha Honorary Land Economics Society, 1991-1995
Visiting Fellow, Ben Gurion University-1995
Elected Member, American Real Estate and Urban Economics Association, 1992-1994
Member, National Research Council, 1993-1994
Fellow, Urban Land Institute, 1990-1993
Principal Resource Person, Asian Development Bank, 1992-1993
Member, Heartland Institute, 1989-1992
Member, Bright New City Committee, 1990-1991
Visiting Fellow, National Chung Hsing University-1991
Visiting Fellow, University of British Columbia-1991
Economist ini Residence, Philadelphia Federal Reserve Bank, 1983-1987
Member, Research Advisory Council, National Council of Real Estate Investment Fiduciaries-1986
Member, Reserach Advisory Board, Committee for Economic Development, 1980-1983
Visiting Scholar, World Bank, 1981-1982
Member, Technical Advisory Committee, General Telephone & Electronics Company, 1980-1982
Member, National Academy of Sciences, 1980-1981
Visitor, International Institute of Applied Systems Analysis, 1979-1981
Member, National Academy of Sciences, 1978-1980
Member, Panel of Experts, Department of Housing and Urban Development, 1975-1980

Grants and Awards
Edwin S. Mills Prize for Best Paper in Real Estate Economics, American Real Estate and Urban Economics Association, January 2003. Awarded annually.
George Bloom Award for 1996, American Real Estate and Urban Economics Association, January 1997
Life Achievement Award, Real Estate Investment Association, October 1995. Made Life member.
Honored for 20 years of service, Economics Institute, August 1995
Three sessions in my honor, Regional Science Association International Conference, Chicago, November 1992
Conference in my honor on my retirement as Editor, Journal of Urban Economics, Kellogg School of Management, April 11-12, 1992. Papers published in the Journal of Urban Economics, Vol. 34, No. 2, September 1993
Real Estate Person of the Year, Chicago Real Estate Securities and Syndication Institute, 1989

Conference Presentations
Brisbane, Conference paper on regional growth, 7/01/2006
Beijing, Conference paper on Chinese economic growth, 6/01/2006

 
Print Research
Working Papers
Book Chapters
Mills, Edwin. 1975. In National Bureau of Economic Research, edited by edited and with an Introduction by Edwin S. Mills, pp. ix, 472. New York: Columbia University Press.
Other
Mills, Edwin. "Urban Land-Use Controls and the Subprime Mortgage Crisis." The Independent Review, V XIII, No. 4, Spring 2009, pp. 559-565.
Books
Mills, Edwin. 2006. Sprawl and Jurisdictional Fragmentation. Washington, DC: Brookings Institution Press, pp. 231-256, Brookings Wharton Papers on Urban Affairs 2006 (Gary Burtless and Janet Rothenberg Pack, Editors).
Mills, Edwin. 2006. Industrialisation Urbanisation and Poverty. New Delhi: Academic Foundation, pp. 159-184, India: Industrialisation in a Reforming Economy, Essays for K. L. Krishna (Suresh Tendulkar, Arup Mitra, K. Narayanan and Deb Kusum Das, editors).
Mills, Edwin. 2001. Comments on Urban Sprawl by Jan Brueckner. Washington, DC: Brookings Institution Press, pp. 90-93, Brookings-Wharton Papers on Urban Affairs 2001. (William Gale and Janet Rotherberg Pack, Editors).
Mills, Edwin. 2000. The Importance of Large Urban Areas and Governments Roles in Fostering Them. New York: Oxford University Press for the World Bank, 2000, Local Dynamics in an Era of Globalization (Shahid Yusuf, Weiping Wu and Simon Everett, Editors).
Mills, Edwin. 2000. A Thematic History of Urban Economic Analyses. Washington, DC: Brookings Institution Press, pp. 1-38, 48-52, Brookings-Wharton Papers on Urban Affairs 2000 (William Gale and Janet Rothenberg Pack, Editors).
Mills, Edwin. 1998. An Analysis of Appropriate Government Housing Policies in Market Economies. Helsinki: UNU/WIDER, pp. 93-106, Urbanization: Its Global Trends, Economics and Governance, (Reino Hjerppe, Editor).
Mills, Edwin. 1998. The Economic Consequences of a Land Tax. Cambridge, MA: Lincoln Institute of Land Policy, pp. 31-48., Land Value Taxation, (Dick Netzer, Editor).
Mills, Edwin. 1998. Excess Commuting in US Metropolitan Areas. Berlin: Springer-Verlag, pp. 72-83, Network Infrastructure and the Urban Environment (Lars Lundquist, Lars-Goran Mattson and Tschangho Kim, Editors).
Mills, Edwin. 1995. The Location of Economic Activity in Rural and Nonmetropolitan United States. Lawrence, KS: University Press of Kansas, pp. 103-133., The Changing American Countryside (Emery Castle, Editor).
Mills, Edwin, Christopher Corpuz and Kevin Kaiser. 1993. A Mixed-Integer Programming Study of Office Rental Space Acquisition and Allocation. Chicago: Real Estate Educators Association, pp. 32-48, Proceedings, 1993 Real Estate Education, Association Annual Conference (James Nolte, Editor).
Mills, Edwin. 1993. The Future of Office Markets. Kyoto Japan: Kyoto University, August 1993 pp. 1-28, Proceedings: International Conference on Land Problems and Urban Policy (Hiroyuki Yamada, Editor).
Mills, Edwin. 1993. The Spatial Pattern of Office Asking Rents in the Chicago Metropolitan Area. London: Macmillan Press, pp. 151-164, Does Economic Space Matter? (Hiroshi Ohta and Jacques-Francois Thisse, Editors).
Mills, Edwin. 1993. What Makes Metropolitan Areas Grow. Washington, DC: The Urban Institute Press, pp. 193-216, Urban Change in the United States and Western Europe, (Anita Summers, Paul Cheshire and Lanfranco Senn, Editors). Second edition, 1999.
Mills, Edwin. 1992. US Federal Housing Finance Agencies. London: Macmillan & Co., pp. 13-14., The New Palgrave: Dictionary of Money and Finance Vol 2, (Peter Newman and Murray Milgate, Editors).
Mills, Edwin. 1992. Large Metropolitan Areas - Their Functions and Prospects. Corvallis, OR: Oregon State University, October 1992, pp. 94-100, National Rural Studies Committee, a Proceeding. (Emery Castle and Barbara Baldwin, Editors).
Mills, Edwin. 1992. Sectoral Clustering and Metropolitan Growth. New Brunswick, NJ: Rutgers University, Center for Urban Policy Research, pp. 3-18, Sources of Metropolitan Growth, (Edwin S. Mills and John F. McDonald, Editors).
Mills, Edwin and Kevin Kaiser. 1990. Low Income Housing in the 1980s. Greenwich, CT: JAI Press, 1990, pp. 1-14. National Trends and Local Policies in Urban Housing (Mark Alan Hughes and Therese McGuire, Editors), Reprinted in Research in Urban Economics (R.D. Norton, Editor). Stamford, CT: JAI Press, 1999, pp 79-90.
Mills, Edwin and Kyung-Hwan Kim. 1990. Urbanization and Regional Development in Korea. New York: Greenwood Press, pp. 411-427, Korean Economic Development (Jene Kwon, Editor).
Mills, Edwin. 1990. Housing Economics - A Synthesis. London: The Macmillan Press, Ltd., pp. 257-274, New Frontiers in Regional Science. (Manas Chatterji and Robert Kuenne, Editors).
Mills, Edwin and Gerald Carlino. 1989. Dynamics of County Growth. Amsterdam: North Holland, pp, 195-206, Advances in Spatial Theory and Dynamics (A. Anderson, D. Bolten, B. Johnansson, P. Nijkamp, Editors).
Mills, Edwin. 1988. Service Sector Suburbanization. New Brunswick, N.J.: Center for Urban Policy Research, Rutgers University, America's New Market Geography (George Sternlieb and James Hughes, Editors), pp. 243-254.
Mills, Edwin and Gary Chodes. 1988. Non-Extractive Employment Outside Metropolitan Areas. Corvallis, OR: Oregon State University, National Rural Studies Committee: A Proceedings, (Emery Castle and Barbara Baldwin, Editors), pp. 29-36.
Mills, Edwin. 1988. The Role of Public and Private Sectors in Economic Development. Urbana, IL: Consortium on Development Studies, Korean Development into the 21st Century (Gill-Chin Lim, Editor), pp. 21-25.
Mills, Edwin. 1987. User Fees. New York: Stockton Press, The New Palgrave (John Eatwell, Murray Milgate and Peter Newman, Editors), Vol. 4, pp. 767-768. Second Edition, 2008.
Mills, Edwin. 1987. Procedures for Allocating Land in Korea. Seoul: Korea Development Institute Press, Human Resources and Social Development Issues (II Sakong, Editor).
Mills, Edwin. 1986. Metropolitan Central City Population and Employment Growth During the 1970s. London: Philip Allan Publishers, Prices, Competition and Equilibrium (M.H. Peston and R.E. Quandt, Editors), pp. 268-284.
Mills, Edwin and Harvey Rosen. 1986. Tax Reform and Commercial Real Estate. Washington: The Urban Institute Press, Tax Reform and Commercial Real Estate (James Follain, Editor) pp. 151-161.
Mills, Edwin and Gerald Carlino. 1985. Is There a Place for Public Policy in Regional Economic Growth?. Pittsburgh: School of Engineering, University of Pittsburg, Modeling and Simulation. Vol. 16, Part 5 (William Vogt and Martin Michele, Editors). pp. 251-260.
Mills, Edwin, Charles Becker and Jeffrey Williamson. 1984. The Impact of Unbalanced Productivity Advance on Indian Urbanization: Some Preliminary Findings. Research Park Triangle, N.C.: Instrument Society of America (Emilio Casetti, William Vogt, Merlin Nickle, Editors), Vol. 15, pp. 187-194.
Mills, Edwin and Gerald Carlino. 1984. Do Metropolitan Areas Matter?. Pittsburgh: University of Pittsburg, School of Engineering, Modeling and Simulation, Vol. 15 (Emilio Casetti, William Vogt, Merlin Nickle, Editors), pp. 247-253.
Mills, Edwin and Charles Becker. 1981. Urbanization Public Services and Income Distributioin ini Development Countries. Singapore: Mauruzen Asia for the United States Center for Regional Development, National Development and Regional Policy (B. Prantilla, Editor), pp. 57-70.
Mills, Edwin and Arthur Sullivan. 1981. Market Effects. Washington: The Brookings Institution, Do Housing Allowances Work? (Katharine Bradbury and Anthony Downs, Editors, pp. 247-284.
Mills, Edwin. 1980. Technology Policy in the United States. Stockholm: Almquist & Wicksell International, Current Innovation, pp. 5-16.
Mills, Edwin. 1980. Population Redistribution and the Use of Land and Energy Resources. Washington: National Academy of Sciences, pp. 50-69, Population Redistribution and Public Policy (Brian Berry and Lester Silverman, Editors).
Mills, Edwin and Hyun-Sik Kim. 1980. The Urban Impact of Air Pollution and Its Control. Baltimore: The Johns Hopkins University Press, The Urban Impacts of Federal Policies (Norman Glickman, Editor), pp. 363-375.
Mills, Edwin. 1979. Economic Analysis of Urban Land-Use Controls. Baltimore Johns Hopkins Press. Current Issues in urban Economic (Peter Mieszkowski and Mahlon Straszheim, Editors) pp. 511-541: Washington: The Urban Land Institute, Classic Readings in Real Estate and Development (Jay Stein, Editor), 1996, pp. 111-133.
Mills, Edwin and Lawrence White. 1978. Government Policies Toward Automotive Emissions Control. Cambridge: M.I.T. Press, pp. 349-409, Approaches to Controlling Air Pollution (Ann F. Friedlaender, Editor).
Mills, Edwin, Daniel Feenberg and Randall Zisler. 1978. Environmental Problems in the Mature Metropolis. Lexington: D.C. Heath and Company, pp. 169-185, The Mature Metropolis (Charles L. Leven, Editor).
Mills, Edwin. 1976. Housing Policy as a Means to Achieve National Growth Policy. Washington: US Government Printing Office: US Department of Housing and Urban Development, Housing in the Seventies Working Papers, I.
Mills, Edwin. 1976. Planning and Market Processes in Urban Models. Lexington: D. C. Heath and Company, pp. 313-330, Public and Urban Economics: Essays in Honor of William S. Vickrey (Ronald Grieson, Editor).
Mills, Edwin and Katsutoshi Ohta. 1976. Urbanization and Urban Problems. Washington: The Brookings Institution, pp. 673-752, (Hugh Patrick and Henry Rosovsky, Editors).
Mills, Edwin. 1975. Do Market Economies Distort City Sizes? Issues in the Management of Urban Systems (Harry Swain and Ross MacKinnon, Editors). Schloss Laxenburg, Austria: International Institute for Applied Systems Analysis, pp. 80-90.
Mills, Edwin, Bruce Hamilton and David Puryear. 1975. The Tiebout Hypothesis and Residential Income Segregation. Lexington: D.C. Heath and Company: Fiscal Zoning and Land Use Controls, Edwin S. Mills and Wallace E. Oates, Editors, pp. 101-118.
Mills, Edwin. 1974. Sensitivity Analysis of Congestion and Structure in an Efficient Urban Area. New York: Praeger Publishers, Transport and the Urban Environment, (Jerome Rothenberg and Ian Heggie, Editors). Vol. 2.
Mills, Edwin. 1974. Mathematical Models for Urban Planning. Urban and Social Economics in Market and Planned Economies: New York: Praeger Publishers, Vol. 2, 1974, pp. 113-129, Alan Brown, Joseph Licari and Egon Neuberger, Editors.
Mills, Edwin. 1974. User Fees and the Quality of the Environment. Amsterdam North-Holland Publishing Company: Public Finance and Stabilization Policy: Essays in Honor of Richard A. Musgrave, pp. 53-70. Warren L. Smith and John M. Culbertson, Editors.
Mills, Edwin. Welfare Aspects of National Policy Toward City Sizes. Urban Studies, Vol. 9, No. 1, Urban Studies, 1972, Vol. 9, No. 1, pp.117-124: Reprinted in Cities, Regions and Public Policy , Gordon Cameron and Lowdon Wingo, Editors, Edinburgh: Oliver & Boyd, 1973, pp. 117-124.
Mills, Edwin. 1972. City Sizes in Developing Economics. Rehovot, Israel: Conference papers: Rehovot Conference on Urbanization and Development in Developing Countries, Continuation Committee of the International Conference on Sciences in the Advancement of New States.
Mills, Edwin. 1969; 1971. A Statistical Profile of Jurors in a United States District Court. Law and the Social Order, Vol. 1969, No. 3, pp. 329-339, Reprinted in Selected Readings: The Jury - Glen Winters, Editor. Chicago: American Judicature Society, 1971.
Mills, Edwin. 1966-1973. Economic Incentives in Air Pollution Control. Patterns of Market Behavior. W. W. Norton, 1966; Prentice-Hall, 1972; Macmillan Company, 1972; Piper and Company, 1972; Little Brown, 1973.
Mills, Edwin. 1965. Some Economic Aspects of Outdoor Recreation. Providence: Brown University Press, pp. 27-42, Michael J. Brennan, Editor.
Edited Volumes
Mills, Edwin and Wallace E Oates, eds.. 1975. Fiscal Zoning and Land Use Controls. Lexington: D.C. Heath and Company, pp. xiii, 205.
Mills, Edwin, ed.. 1975. Economic Analysis of Environmental Problems. New York: Columbia University Press, with an Introduction by Edwin S. Mills pp. xii, 472.
Mills, Edwin, ed.. 1988. Handbook of Regional and Urban Economics. Amsterdam: North-Holland: Urban Economics, Edited by Edwin S. Mills and with an Introduction by Edwin S. Mills and Peter Nijkamp, pp. xviii, 703-1322.
Mills, Edwin, ed.. 1992. Sectoral Clustering and Metropolitan Growth. New Brunswich, NJ: Rutgers University, Center for Urban Policy Research, with an Introduction by Edwin S. Mills and John F. McDonald, pp. xxv, 307.
Mills, Edwin, ed.. 1999. Handbook of Regional and Urban Economics. Amsterdam: North-Hollland: Applied Urban Economics. Chinese translation 2001, with an Introduction by Paul Cheshire and Edwin S. Mills.

 
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