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Capital gains taxation and house price fluctuations

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Author Info
Fuest, Clemens (Department of Economics, Copenhagen Business School)
Huber, Bernd (Department of Economics, Copenhagen Business School)
Nielsen, Søren Bo (Department of Economics, Copenhagen Business School)

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Abstract

Recent years have seen large swings in house prices in many countries. Motivated by housing price variations, proposals for taxing capital gains on housing have repeatedly been put forth. The idea seems to be that such taxes would curb the redistribution occurring between those owning houses and those trying to get into the market for owner-occupied housing. Our paper shows that at least in simple settings, a tax on real capital gains on housing will only lead to even bigger price swings and will not be able to redistribute between people appearing on either side of the housing market.

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File URL: http://openarchive.cbs.dk/cbsweb/handle/10398/7640
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Publisher Info
Paper provided by Copenhagen Business School, Department of Economics in its series Working Papers with number 16-2004.

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Length: 29 pages
Date of creation: 12 Sep 2006
Date of revision:
Handle: RePEc:hhs:cbsnow:2004_016

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Postal: Department of Economics, Copenhagen Business School, Solbjerg Plads 3 C, 5. sal, DK-2000 Frederiksberg, Denmark
Phone: 38 15 25 75
Fax: 38 15 26 65
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Web page: http://www.cbs.dk/departments/econ/
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Related research
Keywords: capital gains tax; housing market; price fluctuations;

Find related papers by JEL classification:
H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
R31 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - Housing Supply and Markets

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This page was last updated on 2009-11-21.

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