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The Effect of Rent Control on Housing Quality Change: A Longitudinal Analysis

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Author Info
Moon, Choon-Geol
Stotsky, Janet G
Abstract

It is widely believed that rent control leads to a decline in the quality of rental housing. This study examines the effect of rent control on the quality of rental housing in New York City. Quality change is linked to the suppression of rent below market levels and other characteristics of the housing unit. The authors develop a first-order nonstationary, heterogeneous Markov model that allows for true state dependence, observed heterogeneity, nonparametric unobserved heterogeneity, and a mover-stayer structure. The results offer some support for the belief that rent control leads to a deterioration in housing quality but suggest the need for additional investigation of this issue. Copyright 1993 by University of Chicago Press.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 101 (1993)
Issue (Month): 6 (December)
Pages: 1114-48
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Handle: RePEc:ucp:jpolec:v:101:y:1993:i:6:p:1114-48

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  2. Arne Bigsten & Paul Collier & Stefan Dercon & Marcel Fafchamps & Bernard Gauthier & Jan Willem Gunning & Remco Oostendorp & Catherine Pattillo & Måns Söderbom & Francis Teal, 2005. "Adjustment Costs and Irreversibility as Determinants of Investment: Evidence from African Manufacturing," The B.E. Journal of Economic Analysis & Policy, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
  3. Ivan Fernandez-Val, 2005. "Estimation of Structural Parameters and Marginal Effects in Binary Choice Panel Data Models with Fixed Effects," Boston University - Department of Economics - Working Papers Series WP2005-38, Boston University - Department of Economics. [Downloadable!]
  4. Blair Jenkins, 2009. "Yet Another Refutation of the More Guns, Less Crime Hypothesis - With Some Help From Moody and Marvell," Econ Journal Watch, Atlas Economic Research Foundation, vol. 6(1), pages 73-112, January. [Downloadable!]
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