| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7928 |
| 来源ID | Working Paper 7928 |
| Taxing and Subsidizing Housing Investment: The Rise and Fall of Housing's Favored Status | |
| Patric H. Hendershott; Michael White | |
| 发表日期 | 2000-10-01 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper surveys and interprets a wide body of literature on the taxation and subsidization of investment in owner-occupied and rental housing. Where available, the study considers experiences outside of the United States. Issues addressed include what nonneutral taxation is, how taxation/subsidization has varied relative to this standard over the last thirty years, the impact of subsidies on house prices, housing consumption and tenure, and rationales for preferring one tenure choice over another. We find a broad increase in housing's favored status during the 1970s, a reversal during the 1980s, and a further decline in this status during the 1990s. There are two broad components to these shifts. First, there is an endogenous component caused by variations in the inflation rate. Because housing is the tax-favored asset, the higher are nominal returns, the greater is the tax advantage. This is reinforced by tax bracket creep; again, being the tax-favored asset, the higher are tax rates, the greater is the tax advantage. Second, there is an exogenous component, largely reflected in the cutting of tax rates even below what they were in 1970 and the weakening of the mortgage interest deduction in many countries. We attribute this component to the aging of the baby-boomers, which first provided a constituency for more generous treatment of owner-occupied housing, but now is working in the opposite direction. |
| 主题 | Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w7928 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565514 |
| 推荐引用方式 GB/T 7714 | Patric H. Hendershott,Michael White. Taxing and Subsidizing Housing Investment: The Rise and Fall of Housing's Favored Status. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7928.pdf（195KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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