Housing, taxation and retirement provision
AbstractThis paper considers the tax treatment of housing and the issue of savings for retirement in the context of a simplified model that still allows key aspects of the household context to be realistically represented. A model is developed in which both housing and financial assets can be used as vehicles for household saving. Individuals face perfect capital markets and choose between owner-occupied and rented accommodations. For the model developed, it is shown that the tax advantage of owner-occupied housing is not fully removed even if imputed rents are subject to income taxation. However, deferred income taxation for both housing and savings in the form of financial assets would result in an equal treatment of tenants and owner-occupiers.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Housing Economics.
Volume (Year): 18 (2009)
Issue (Month): 3 (September)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622881
Housing Taxation Retirement savings;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Wilhelmsson, Mats, 2008. "House price depreciation rates and level of maintenance," Journal of Housing Economics, Elsevier, vol. 17(1), pages 88-101, March.
- Jonathan Skinner, 1990.
"The Dynamic Efficiency Cost of Not taxing Housing,"
NBER Working Papers
3454, National Bureau of Economic Research, Inc.
- Hamilton, Bob & Whalley, John, 1985. "Tax treatment of housing in a dynamic sequenced general equilibrium model," Journal of Public Economics, Elsevier, vol. 27(2), pages 157-175, July.
- Veronica Cacdac Warnock & Francis E. Warnock, 2008. "Markets and Housing Finance," Working Papers 032008, Hong Kong Institute for Monetary Research.
- Turnovsky, Stephen J. & Okuyama, Toshiyuki, 1994. "Taxes, housing, and capital accumulation in a two-sector growing economy," Journal of Public Economics, Elsevier, vol. 53(2), pages 245-267, February.
- Aaron, Henry, 1970. "Income Taxes and Housing," American Economic Review, American Economic Association, vol. 60(5), pages 789-806, December.
- Gervais, Martin, 2002.
"Housing taxation and capital accumulation,"
Journal of Monetary Economics,
Elsevier, vol. 49(7), pages 1461-1489, October.
- Gobillon, Laurent & le Blanc, David, 2008. "Economic effects of upfront subsidies to ownership: The case of the Prêt à Taux Zéro in France," Journal of Housing Economics, Elsevier, vol. 17(1), pages 1-33, March.
- Nakagami, Yasuhiro & Pereira, Alfredo M., 1996. "Budgetary and Efficiency Effects of Housing Taxation in the United States," Journal of Urban Economics, Elsevier, vol. 39(1), pages 68-86, January.
- Van Order, Robert, 1990. "Housing, taxes, and capital allocation," Journal of Public Economics, Elsevier, vol. 42(3), pages 387-398, August.
- Sanford J. Grossman & Guy Laroque, 1988.
"Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods,"
NBER Working Papers
2369, National Bureau of Economic Research, Inc.
- Grossman, Sanford J & Laroque, Guy, 1990. "Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods," Econometrica, Econometric Society, vol. 58(1), pages 25-51, January.
- Sanford J Grossman & Guy Laroque, 2003. "Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods," Levine's Working Paper Archive 618897000000000803, David K. Levine.
- van der Hoek, M. Peter & Radloff, Sarah. E., 2007. "Taxing owner-occupied housing: comparing the Netherlands to other European Union countries," MPRA Paper 5876, University Library of Munich, Germany.
- Berkovec, James, 1989. "A General Equilibrium Model of Housing Consumption and Investment," The Journal of Real Estate Finance and Economics, Springer, vol. 2(3), pages 157-72, September.
- Warnock, Veronica Cacdac & Warnock, Francis E., 2008. "Markets and housing finance," Journal of Housing Economics, Elsevier, vol. 17(3), pages 239-251, September.
- Henderson, J Vernon & Ioannides, Yannis M, 1983. "A Model of Housing Tenure Choice," American Economic Review, American Economic Association, vol. 73(1), pages 98-113, March.
- Charles Ka Yui Leung, 2004.
"Macroeconomics and Housing: A Review of the Literature,"
00004, Chinese University of Hong Kong, Department of Economics.
- Leung, Charles, 2004. "Macroeconomics and housing: a review of the literature," Journal of Housing Economics, Elsevier, vol. 13(4), pages 249-267, December.
- Charles Ka-Yui Leung, 2004. "Macroeconomics and Housing: A Review of the Literature," Departmental Working Papers _164, Chinese University of Hong Kong, Department of Economics.
- Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467.
- Artle, Roland & Varaiya, Pravin, 1978. "Life cycle consumption and homeownership," Journal of Economic Theory, Elsevier, vol. 18(1), pages 38-58, June.
- Pines, David & Sadka, Efraim & Sheshinski, Eytan, 1985. "The normative and positive aspects of the taxation of imputed rent on owner-occupied housing," Journal of Public Economics, Elsevier, vol. 27(1), pages 1-23, June.
- Wei-Bin Zhang, 2011. "Economic growth with space and fiscal policies with housing and public goods," Journal of Economic Studies, Emerald Group Publishing, vol. 38(4), pages 452-482, September.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If references are entirely missing, you can add them using this form.