全球智库信息集成服务系统(G2TT): Did Housing Policies Cause the Postwar Boom in Homeownership?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w18821
来源ID	Working Paper 18821
	Did Housing Policies Cause the Postwar Boom in Homeownership?
	Matthew Chambers; Carlos Garriga; Donald E. Schlagenhauf
发表日期	2013-02-21
出版年	2013
语种	英语
摘要	After the collapse of housing markets during the Great Depression, the U.S. government played a large role in shaping the future of housing finance and policy. Soon thereafter, housing markets witnessed the largest boom in recent history. The objective in this paper is to quantify the contribution of government interventions in housing markets in the expansion of U.S. homeownership using an equilibrium model of tenure choice. In the model, home buyers have access to a menu of mortgage choices to finance the acquisition of a house. The government also provides special programs through provisions of the tax code. The parameterized model is consistent with key aggregate and distributional features observed in the 1940 U.S. economy and is capable of accounting for the boom in homeownership in 1960. The decomposition suggests that government policies have significant importance. For example, the expansion in maturity of the fixed-rate mortgage to 30 years can account for 12 percent of the increase. Housing policies, such as the introduction of the mortgage interest deduction or the taxation of housing services can have significant effects on homeownership.
主题	Macroeconomics ; Business Cycles ; History ; Macroeconomic History ; Regional and Urban Economics
URL	https://www.nber.org/papers/w18821
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/576495
推荐引用方式 GB/T 7714	Matthew Chambers,Carlos Garriga,Donald E. Schlagenhauf. Did Housing Policies Cause the Postwar Boom in Homeownership?. 2013.

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
w18821.pdf（266KB）	智库出版物		限制开放	CC BY-NC-SA	浏览