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Imputed Rents and Living Standard Inequalities

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  • Jean-Claude Driant

    (Université Paris-XII)

  • Alain Jacquot

    (INSEE)

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    Abstract

    In studies of inequalities, economic theory recommends imputing to owner-occupiers the notional rent that they could earn from their housing if they rented it and imputing to low rental public housing tenants the implicit subsidy represented by the rent differential between the public housing sector and the private sector. In practice, these two approaches do not reveal the same degree of legitimacy and need. Imputing notional rents to owners significantly alters the hierarchy of standards of living: poverty would be slightly overestimated if this were disregarded. Imputing an implicit subsidy to public housing tenants is even more debatable in that low rental public housing and private rented housing do not provide the same services and are not designed for the same households. Such an exercise does highlight the handicap that low-income households have as regards housing and also the relative inability of the subsidised housing sector to resolve this problem.

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    Bibliographic Info

    Article provided by Institut National de la Statistique et des Etudes Economiques in its journal Economie et Statistique.

    Volume (Year): 381-382 (2005)
    Issue (Month): (October)
    Pages: 177-206

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    Handle: RePEc:crs:ecosta:es381-382h

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    Related research

    Keywords: Imputed Rents; Living Standards; Inequalities; Tenure;

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    References

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    1. John P. Harding & Stuart S. Rosenthal & C. F. Sirmans, 2003. "Estimating Bargaining Power in the Market for Existing Homes," The Review of Economics and Statistics, MIT Press, vol. 85(1), pages 178-188, February.
    2. Gibbons, Steve & Machin, Stephen, 2003. "Valuing English primary schools," Journal of Urban Economics, Elsevier, vol. 53(2), pages 197-219, March.
    3. Yates, Judith, 1994. "Imputed Rent and Income Distribution," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 40(1), pages 43-66, March.
    4. Gervais, Martin, 2002. "Housing taxation and capital accumulation," Journal of Monetary Economics, Elsevier, vol. 49(7), pages 1461-1489, October.
    5. Peter Gottschalk & Timothy M. Smeeding, 1997. "Cross-National Comparisons of Earnings and Income Inequality," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 633-687, June.
    6. Olsen, Edgar O, 1969. "A Competitive Theory of the Housing Market," American Economic Review, American Economic Association, vol. 59(4), pages 612-22, Part I Se.
    7. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    8. David le Blanc & Christine Lagarenne, 2004. "Owner-Occupied Housing and the Composition of the Household Portfolio: The Case of France," The Journal of Real Estate Finance and Economics, Springer, vol. 29(3), pages 259-275, November.
    9. Isabelle Joumard, 2002. "Les systèmes fiscaux des pays de l'Union européenne," Revue économique de l'OCDE, OECD Publishing, vol. 2002(1), pages 97-164.
    10. David le Blanc & Rémy Pigois & Anne Laferrère, 1999. "Les effets de l'existence du parc HLM sur le profil de consommation des ménages," Économie et Statistique, Programme National Persée, vol. 328(1), pages 37-60.
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