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Time for Revisionism on Rent Control?

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  • Richard Arnott

Abstract

Economists' traditional hostility to rent contols is based on models that treat the housing market as perfectly competitive and on the experience with 'hard' controls in New York City and many European countries following World War II. The current 'soft' rent control systems in North America are varied and qualitatively different from earlier hard controls. The theoretical case against them is weak, particularly when the housing market is viewed as imperfectly competitive. The empirical case against them is weak, too. Economists should reconsider their blanket opposition to current rent control systems and evaluate them on a case-by-case basis.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.9.1.99
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Bibliographic Info

Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 9 (1995)
Issue (Month): 1 (Winter)
Pages: 99-120

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Handle: RePEc:aea:jecper:v:9:y:1995:i:1:p:99-120

Note: DOI: 10.1257/jep.9.1.99
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  1. George Fallis & Lawrence B. Smith, 1985. "Price Effects of Rent Control on Controlled and Uncontrolled Rental Housing in Toronto: A Hedonic Index Approach," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 18(3), pages 652-59, August.
  2. Smith, Lawrence B & Rosen, Kenneth T & Fallis, George, 1988. "Recent Developments in Economic Models of Housing Markets," Journal of Economic Literature, American Economic Association, vol. 26(1), pages 29-64, March.
  3. Sweeney, James L., 1974. "A commodity hierarchy model of the rental housing market," Journal of Urban Economics, Elsevier, vol. 1(3), pages 288-323, July.
  4. Weibull, Jorgen W, 1983. " A Dynamic Model of Trade Frictions and Disequilibrium in the Housing Market," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 85(3), pages 373-92.
  5. Gyourko, Joseph & Linneman, Peter, 1989. "Equity and efficiency aspects of rent control: An empirical study of New York City," Journal of Urban Economics, Elsevier, vol. 26(1), pages 54-74, July.
  6. Weber, Shlomo & Wiesmeth, Hans, 1987. "Contract equilibria in a regulated rental housing market," Journal of Urban Economics, Elsevier, vol. 21(1), pages 59-68, January.
  7. Raymon, Neil, 1983. "Price ceilings in competitive markets with variable quality," Journal of Public Economics, Elsevier, Elsevier, vol. 22(2), pages 257-264, November.
  8. Nguyen, Trien T. & Whalley, John, 1986. "Equilibrium under price controls with endogenous transactions costs," Journal of Economic Theory, Elsevier, Elsevier, vol. 39(2), pages 290-300, August.
  9. John M. Quigley, 1990. "Does rent control cause homelessness? taking the claim seriously," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 9(1), pages 89-93.
  10. Olsen, Edgar O, 1972. "An Econometric Analysis of Rent Control," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 80(6), pages 1081-1100, Nov.-Dec..
  11. Linneman, Peter, 1987. "The effect of rent control on the distribution of income among New York City renters," Journal of Urban Economics, Elsevier, vol. 22(1), pages 14-34, July.
  12. Wheaton, William C, 1990. "Vacancy, Search, and Prices in a Housing Market Matching Model," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(6), pages 1270-92, December.
  13. Marks, Denton, 1984. "The effects of partial-coverage rent control on the price and quantity of rental housing," Journal of Urban Economics, Elsevier, vol. 16(3), pages 360-369, November.
  14. Loikkanen, Heikki A, 1985. " On Availability Discrimination under Rent Control," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 87(3), pages 500-520.
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  1. Contrôle des loyers et pouvoir d'achat
    by Ecopublix in Ecopublix on 2007-12-06 17:39:00
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