Housing, prices and tax policy in Spain
AbstractThis paper analyses the consequences of different tax policies upon the evolution of housing prices and residential capital stock (in the form of home ownership) in Spain. The framework is a computational aggregate model of housing as an asset. Policies under consideration are the removal of housing subsidies implicit in the personal income tax and the introduction of “investment incentives” in housing (i.e., policies addressed specifically to newly-produced housing). Both long-run effects and dynamic trajectories are discussed herein. With regards to the latter, distinction is made between those situations in which economic agents have rational expectations (i.e., perfect foresight) and static expectations. Copyright Springer-Verlag Berlin/Heidelberg 2004
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Bibliographic InfoArticle provided by Springer in its journal Spanish Economic Review.
Volume (Year): 6 (2004)
Issue (Month): 1 (April)
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Postal: Universidad del País Vasco; DFAE II; Avenida Lehendakari Aguirre, 83; 48015 Bilbao; Spain
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Web page: http://link.springer.de/link/service/journals/10108/index.htm
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- Francisco Azpitarte, 2010. "The household wealth distribution in Spain: The role of housing and financial wealth," Hacienda Pública Española, IEF, vol. 194(3), pages 65-90, October.
- Samuel Bentolila & Pierre Cahuc & Juan J. Dolado & Thomas Le Barbanchon, 2010.
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- Bentolila, Samuel & Cahuc, Pierre & Dolado, Juan J. & Le Barbanchon, Thomas, 2010. "Two-Tier Labor Markets in the Great Recession: France vs. Spain," CEPR Discussion Papers 8152, C.E.P.R. Discussion Papers.
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- Carlos Garriga, 2010. "The Role of Construction in the Housing Boom and Bust in Spain," Working Papers 2010-09, FEDEA.
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