| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18125 |
| 来源ID | Working Paper 18125 |
| Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge Massachusetts | |
| David H. Autor; Christopher J. Palmer; Parag A. Pathak | |
| 发表日期 | 2012-06-08 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Understanding potential spillovers from the attributes and actions of neighborhood residents onto the value of surrounding properties and neighborhoods is central to both the theory of urban economics and the development of efficient housing policy. This paper measures the capitalization of housing market spillovers by studying the sudden and largely unanticipated 1995 elimination of stringent rent controls in Cambridge, Massachusetts that had previously muted landlords' investment incentives and altered the assignment of residents to locations. Pooling administrative data on the assessed values of each residential property and the prices and characteristics of all residential transactions between 1988 and 2005, we find that rent control's removal produced large, positive, and robust spillovers onto the price of never-controlled housing from nearby decontrolled units. Elimination of rent control added about $1.8 billion to the value of Cambridge's housing stock between 1994 and 2004, equal to nearly a quarter of total Cambridge residential price appreciation in this period. Positive spillovers to never-controlled properties account for more half of the induced price appreciation. Residential investments can explain only a small fraction of the total. |
| 主题 | Microeconomics ; Welfare and Collective Choice ; Public Economics ; Taxation ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w18125 |
| 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/575801 |
| 推荐引用方式 GB/T 7714 | David H. Autor,Christopher J. Palmer,Parag A. Pathak. Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge Massachusetts. 2012. |
| 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 | ||
| w18125.pdf（1671KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
