| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17520 |
| DP17520 To Own or to Rent? The Effects of Transaction Taxes on Housing Markets | |
| Lu Han; Liwa Rachel Ngai; Kevin Sheedy | |
| 发表日期 | 2022-07-31 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Using sales and leasing data, this paper finds three novel effects of a higher property transaction tax: higher buy-to-rent transactions alongside lower buy-to-own transactions, despite both being taxed; lower sales-to-leases and price-to-rent ratios; and longer time-on-the-market. This paper explains these facts by developing a search model with entry of investors and households who decide to own or rent. The transaction tax increases the demand for rental properties, which reduces the homeownership rate and homeowners’ mobility. The deadweight loss from the tax is large at 79% of revenue, with 40% of this due to the decision to own or to rent. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Rental market |
| URL | https://cepr.org/publications/dp17520 |
| 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/546605 |
| 推荐引用方式 GB/T 7714 | Lu Han,Liwa Rachel Ngai,Kevin Sheedy. DP17520 To Own or to Rent? The Effects of Transaction Taxes on Housing Markets. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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