The institutions of house tenancy markets in post-war Western Europe: an economic analysis
AbstractThis study provides an economic analysis of the post-War institutions of the European tenancy markets. Two representative types of market interventions are analyzed: the introduction of compulsory terms in the tenancy contracts and rent control. First of all this study offers a description and an analysis of the recent history of those institutions. The cases of Spain (as a benchmark), Italy, Finland and UK are analyzed more in depth, as examples of "big reformers" during the 20th century, in order to extract some general conclusions about the evolution of the European institutions in the last decades. Then the effects of those interventions are theoretically explored by adapting a model of tenancy markets (Basu and Emerson, 2000). The results show that the analyzed institutions potentially entail negative effects for the European tenancy markets. Those effects are consistent with the tendences observed during the second half of the 20th century in the different european markets.
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Bibliographic InfoPaper provided by Universidad Carlos III, Departamento de Historia Económica e Instituciones in its series Working Papers in Economic History with number wp08-11.
Date of creation: Jun 2008
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Rent control; Institutions; Tenancy contracts; Compulsory terms;
Find related papers by JEL classification:
- N4 - Economic History - - Government, War, Law, International Relations, and Regulation
- K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-07-14 (All new papers)
- NEP-GEO-2008-07-14 (Economic Geography)
- NEP-HIS-2008-07-14 (Business, Economic & Financial History)
- NEP-LAW-2008-07-14 (Law & Economics)
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