Public housing units vs. housing vouchers: Accessibility, local public goods, and welfare
AbstractWe develop a general equilibrium model of residential choice and study the effects of two housing aid policies, public housing units and housing vouchers. Land is differentiated by both residential accessibility and local public goods, and the provision levels of local public goods are determined by property tax revenues and neighborhood compositions. Households differ in their incomes and preferences for local public goods. Housing aid policies are financed by general income taxes. We discuss how the location of public housing units is a fundamental policy variable, in addition to the numbers and sizes of units, and argue that vouchers not only cause less distortion for social welfare compared to public housing, but may also improve overall welfare.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Housing Economics.
Volume (Year): 21 (2012)
Issue (Month): 4 ()
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622881
Housing policy; Welfare; Residential location choice; Local public goods; Endogenous sorting;
Other versions of this item:
- Charles Ka Yui Leung & Sinan Sarpca & Kuzey Yilmaz, 2012. "Public Housing Units vs. Housing Vouchers: Accessibility, Local Public Goods, and Welfare," RCER Working Papers 574, University of Rochester - Center for Economic Research (RCER).
- Leung, Charles Ka Yui & Sarpca, Sinan & Yilmaz, Kuzey, 2012. "Public housing units vs. housing vouchers: accessibility, local public goods, and welfare," MPRA Paper 40990, University Library of Munich, Germany.
- Sinan Sarpca & Charles Ka Yui Leung & Kuzey Yilmaz, 2010. "Public Housing Units vs. Housing Vouchers: Accessibility, Local Public Goods, and Welfare," KoÃ§ University-TUSIAD Economic Research Forum Working Papers 1032, Koc University-TUSIAD Economic Research Forum.
- H40 - Public Economics - - Publicly Provided Goods - - - General
- D60 - Microeconomics - - Welfare Economics - - - General
- H82 - Public Economics - - Miscellaneous Issues - - - Governmental Property
- R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies
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