کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
962232 | 930004 | 2007 | 24 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Real estate and optimal public policy in a credit-constrained economy
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
This paper articulates a general equilibrium model of a two-sector economy where entrepreneurs borrow from households subject to a credit constraint. Real estate is a productive factor in the entrepreneurial sector and serves as collateral in entrepreneurs' debt contracts. We consider two types of public policies that have the potential of improving upon the economy's equilibrium outcome, one of subsidizing entrepreneurial real estate holding and the other subsidizing household interest income. It is found that the former policy opens up a wide range of possibilities for Pareto improvement when the supply of real estate is endogenous.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Housing Economics - Volume 16, Issue 2, June 2007, Pages 143-166
Journal: Journal of Housing Economics - Volume 16, Issue 2, June 2007, Pages 143-166
نویسندگان
Yi Jin, Zhixiong Zeng,