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Testing the Tiebout Hypothesis in the U.S

Author

Listed:
  • Myeong-Soo Kim

    (Korea Research Institute for Human Settlements)

Abstract

In this study, the Tiebout hypothesis is extended in the context of the capi-talization of property taxes and local public services: The Tiebout hypothesis is teste4 using a fixed effect panel data model. To reduce endogeneity between capitalization rates and properly taxes, IV (Instrumental Variable) estimate is used The empirical result from N estimates shows that the coefficient for property tax is close to zero. This fact indicates that property taxes are capi-talized almost 0% into house walue and the Tiebout hypothesis is satisfied here.

Suggested Citation

  • Myeong-Soo Kim, 1998. "Testing the Tiebout Hypothesis in the U.S," Korean Economic Review, Korean Economic Association, vol. 14, pages 231-243.
    • Handle: RePEc:kea:keappr:ker-199806-14-1-13
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    More about this item

    Keywords

    Tiebout Hypothesis; A Fixed Effect Panel Data Model; Capitallwition of Property Taxes; Instrumental Variable Estimate;
    All these keywords.

    JEL classification:

    • R0 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General
    • R5 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis

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