| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13758 |
| DP13758 Affordable Housing and City Welfare | |
| Stijn Van Nieuwerburgh; Jack Favilukis | |
| 发表日期 | 2019-05-26 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Housing affordability is the main policy challenge for many large cities in the world. Zoning changes, rent control, housing vouchers, and tax credits are the main levers employed by policy makers. But how effective are they at combatting the affordability crisis? We build a new framework to evaluate the effect of these policies on the well-being of its citizens. It endogenizes house prices, rents, construction, labor supply, output, income and wealth inequality, as well as the location decisions of households. Its main novel features are risk, risk aversion, and incomplete risk-sharing. We calibrate the model to the New York MSA, incorporating current zoning and affordable housing policies. Housing affordability policies carry substantial insurance value but cause misallocation in labor and housing markets. Housing affordability policies that enhance access to this insurance especially for the neediest households create large net welfare gains. |
| 主题 | Financial Economics ; Macroeconomics and Growth ; Public Economics |
| 关键词 | Dynamic spatial equilibrium House prices Affordable housing Rent control Zoning Gentrification Development Housing vouchers Tax credits |
| URL | https://cepr.org/publications/dp13758 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542623 |
| 推荐引用方式 GB/T 7714 | Stijn Van Nieuwerburgh,Jack Favilukis. DP13758 Affordable Housing and City Welfare. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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