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Residential Mobility and the Housing Market in a Two-Sector Neoclassical Growth Model

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  • Hardman, Anna M
  • Ioannides, Yannis M

Abstract

The impact of residential mobility and competitive housing markets on long-run growth is examined using a two-sector general equilibrium overlapping-generations model in continuous time. There is an infinity of agents with finite lives who adjust their housing consumption by moving, which is costly. The authors explore the model's steady-state properties, first with a free housing market and then under rent control when the market clears through restrictions on the frequency of moves. Rent controls do not just reduce welfare; they may increase the steady-state capital-labor ratio. Copyright 1999 by The editors of the Scandinavian Journal of Economics.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

Volume (Year): 101 (1999)
Issue (Month): 2 (June)
Pages: 315-35

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Handle: RePEc:bla:scandj:v:101:y:1999:i:2:p:315-35

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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442

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Cited by:
  1. Krol, Robert & Svorny, Shirley, 2005. "The effect of rent control on commute times," Journal of Urban Economics, Elsevier, vol. 58(3), pages 421-436, November.
  2. Seko, Miki & Sumita, Kazuto, 2007. "Effects of government policies on residential mobility in Japan: Income tax deduction system and the Rental Act," Journal of Housing Economics, Elsevier, vol. 16(2), pages 167-188, June.
  3. Michael Svarer & Michael Rosholm & Jacob Roland Munch, 2003. "Rent Control and Unemployment Duration," CAM Working Papers 2003-07, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
  4. Aida Caldera Sánchez & Dan Andrews, 2011. "To Move or not to Move: What Drives Residential Mobility Rates in the OECD?," OECD Economics Department Working Papers 846, OECD Publishing.
  5. Juan S. Mora, 2009. "A Characterization of the Judicial System in Spain: Analysis with Formalism Indices," Working Papers 2009-23, FEDEA.
  6. Munch, Jakob Roland & Svarer, Michael, 2002. "Rent control and tenancy duration," Journal of Urban Economics, Elsevier, vol. 52(3), pages 542-560, November.
  7. Milyo, Jeffrey, 2000. "A problem with Euclidean preferences in spatial models of politics," Economics Letters, Elsevier, vol. 66(2), pages 179-182, February.
  8. Duebel, Hans-Joachim & Brzeski, W. Jan & Hamilton, Ellen, 2006. "Rental choice and housing policy realignment in transition : post-privatization challenges in the Europe and Central Asia region," Policy Research Working Paper Series 3884, The World Bank.

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