| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23600 |
| 来源ID | Working Paper 23600 |
| Do People Respond to the Mortage Interest Deduction? Quasi-Experimental Evidence from Denmark | |
| Jonathan Gruber; Amalie Jensen; Henrik Kleven | |
| 发表日期 | 2017-07-24 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Using linked housing and tax records from Denmark combined with a major reform of the mortgage interest deduction in the late 1980s, we carry out the first comprehensive long-term study of how tax subsidies affect housing decisions. The reform introduced a large and sharp reduction in the mortgage deduction for top-rate taxpayers, while reducing it much less or not at all for lower-rate taxpayers. We present three main findings. First, the mortgage deduction has a precisely estimated zero effect on homeownership. This holds even in the very long run. Second, the mortgage deduction has a sizeable impact on housing demand at the intensive margin, inducing homeowners to buy larger and more expensive houses. Third, the largest effect of the mortgage deduction is on household financial decisions, inducing them to increase indebtedness. These findings suggest that the mortgage interest deduction distorts the behavior of homeowners at the intensive margin, but is ineffective at promoting homeownership at the extensive margin and any externalities that may be associated with it. |
| 主题 | Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w23600 |
| 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/581274 |
| 推荐引用方式 GB/T 7714 | Jonathan Gruber,Amalie Jensen,Henrik Kleven. Do People Respond to the Mortage Interest Deduction? Quasi-Experimental Evidence from Denmark. 2017. |
| 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 | ||
| w23600.pdf（514KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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