| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11489 |
| 来源ID | Working Paper 11489 |
| The Sensitivity of Homeowner Leverage to the Deductibility of Home Mortgage Interest | |
| Patric H. Hendershott; Gwilym Pryce | |
| 发表日期 | 2005-07-18 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | Mortgage interest tax deductibility is needed to treat debt and equity financing of homes equally. Countries that limit deductibility create a debt tax penalty that presumably leads households to shift from debt toward equity financing. The greater the shift, the less is the tax revenue raised by the limitation and smaller is its negative impact on housing demand. Measuring the financing response to a legislative change is complicated by the fact that lenders restrict mortgage debt to the value of the house (or slightly less) being financed. Taking this restriction into account reduces the estimated financing response by 20 percent (a 32 percent decline in debt vs a 40 percent decline). The estimation is based on 86,000 newly originated UK loans from the late 1990s. |
| 主题 | Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w11489 |
| 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/569132 |
| 推荐引用方式 GB/T 7714 | Patric H. Hendershott,Gwilym Pryce. The Sensitivity of Homeowner Leverage to the Deductibility of Home Mortgage Interest. 2005. |
| 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 | ||
| w11489.pdf（667KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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