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Rent Control and Tenancy Duration

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Author Info
Jakob Roland Munch
Michael Svarer () (Department of Economics, University of Aarhus, Denmark)

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Abstract

This paper investigates how rent control affects mobility on the Danish private rental housing market. Based on a unique and extensive data set a measure of the degree of rent regulation of each housing unit is calculated, and this is coupled with socio-economic characteristics and spells of tenancy duration for each household. To accommodate the special features of such a data set we apply a proportional hazard duration model, that encompasses both the presence of left truncated tenancy durations, right censored observations and allows for a very flexible specification of the time dependency as captured by the baseline hazard function. We find that tenancy mobility is severely reduced by the presence of rent control. Tenancy duration for a typical household in the private rental sector is found to be more than six years longer if the apartment belongs to the 10 per cent most regulated units than if it belongs to the 10 per cent least regulated units.

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Paper provided by School of Economics and Management, University of Aarhus in its series Economics Working Papers with number 2001-7.

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Handle: RePEc:aah:aarhec:2001-7

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Web page: http://www.econ.au.dk/afn/

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Related research
Keywords: Rent control; mobility; duration model.;

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Find related papers by JEL classification:
C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis
R31 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - Housing Supply and Markets
D45 - Microeconomics - - Market Structure and Pricing - - - Rationing; Licensing
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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  1. Juan S. Mora, 2008. "The institutions of house tenancy markets in post-war Western Europe: an economic analysis," Working Papers in Economic History wp08-11, Universidad Carlos III, Departamento de Historia Económica e Instituciones. [Downloadable!]
  2. Richard Arnott & Elizaveta Shevyakhova, 2008. "Tenancy Rent Control And Credible Commitment In Maintenance," Working Papers 200812, University of California at Riverside, Department of Economics, revised Sep 2008. [Downloadable!]
    Other versions:
  3. Jakob Roland Munch & Michael Rosholm & Michael Svarer, 2006. "Home Ownership, Job Duration, and Wages," Economics Working Papers 2006-06, School of Economics and Management, University of Aarhus. [Downloadable!]
    Other versions:
  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!]
  5. Michael Svarer & Michael Rosholm & Jacob Roland Munch, 2003. "Are Home Owners Really more Unemployed?," CAM Working Papers 2003-09, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics. [Downloadable!]
    Other versions:
  6. Jin, Songqing & Deininger, Klaus & Nagarajan, Hari, 2006. "Equity and efficiency impacts of rural land rental restrictions: Evidence from India," 2006 Annual meeting, July 23-26, Long Beach, CA 21305, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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