کد مقاله کد نشریه سال انتشار مقاله انگلیسی ترجمه فارسی نسخه تمام متن
982965 1480535 2016 12 صفحه PDF سفارش دهید دانلود رایگان
عنوان انگلیسی مقاله ISI
Metropolitan area home prices and the mortgage interest deduction: Estimates and simulations from policy change
ترجمه فارسی عنوان
قیمت اصلی منطقه متروپولیتن و کسر بهره وام مسکن: برآورد و شبیه سازی تغییر سیاست
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کلمات کلیدی
قیمت خانه؛ یارانه مسکن؛ کسر بهره وام مسکن
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


• We simulate metro home price changes from reforming the mortgage interest deduction.
• We show three different reform scenarios with both elastic and inelastic supply.
• We estimate changes to leverage and itemization behavior in response to reform.
• Eliminating the mortgage interest deduction reduces prices by 4 to 14%.

We simulate changes to metropolitan area home prices from reforming the Mortgage Interest Deduction (MID). Price simulations are based on an extended user cost model that incorporates two dimensions of behavioral change in home buyers: sensitivity of borrowing and the propensity to use tax deductions. We simulate prices with both inelastic and elastic supply. Our results show a wide range of price effects across metropolitan areas and prospective policies. Considering behavioral change and no supply elasticity, eliminating the MID results in average home price declines as steep as 13.5% in Washington, D.C., and as small as 3.5% in Miami-Fort Lauderdale, FL. Converting the MID to a 15% refundable credit reduces prices by as much as 1.4% in San Jose, CA, San Francisco, CA, and Washington, D.C. and increases average price in other metropolitan areas by as much as 12.1% (Miami-Fort Lauderdale). Accounting for market elasticities produces price estimates that are on average 36% as large as standard estimates.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Regional Science and Urban Economics - Volume 59, July 2016, Pages 12–23
نویسندگان
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