IDEAS home Printed from https://ideas.repec.org/a/hpe/journl/y2023v246i3p165-206.html
   My bibliography  Save this article

Controles de alquileres

Author

Listed:
  • Miguel-Ángel López García

    (Universidad Autónoma de Barcelona)

Abstract

In this paper we review the allocative and distributional effects of those provisions that fall under the general heading of rent controls. We discuss “first generation” controls (viewed as setting a maximum rental price) and “second generation” controls (where the regulation is not as stringent and, in particular, exceptions associated with new housing units are allowed) as well as the so-called “third generation” or tenancy controls (where rental payments are regulated within a tenancy but may vary between tenancies). We also review the indications provided by the empirical evidence along with some recent regulation and deregulation experiences.

Suggested Citation

  • Miguel-Ángel López García, 2023. "Controles de alquileres," Hacienda Pública Española / Review of Public Economics, IEF, vol. 246(3), pages 165-206, September.
    • Handle: RePEc:hpe:journl:y:2023:v:246:i:3:p:165-206
    as

    Download full text from publisher

    File URL: https://hpe-rpe.org/wp-admin/admin-ajax.php?juwpfisadmin=false&action=wpfd&task=file.download&wpfd_category_id=234&wpfd_file_id=5311&token=3e7e605da29f529dff4ad19b0a179b3a&preview=1
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Andreas Mense & Claus Michelsen & Konstantin A. Kholodilin, 2019. "The Effects of Second-Generation Rent Control on Land Values," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 385-388, May.
    2. Basu, Kaushik & Emerson, Patrick M, 2000. "The Economics of Tenancy Rent Control," Economic Journal, Royal Economic Society, vol. 110(466), pages 939-962, October.
    3. Ault Richard W. & Jackson John D. & Saba Richard P., 1994. "The Effect of Long-Term Rent Control on Tenant Mobility," Journal of Urban Economics, Elsevier, vol. 35(2), pages 140-158, March.
    4. Philipp Deschermeier & Heide Haas & Marcel Hude & Michael Voigtländer, 2016. "A first analysis of the new German rent regulation," European Journal of Housing Policy, Taylor and Francis Journals, vol. 16(3), pages 293-315, July.
    5. David H. Autor & Christopher J. Palmer & Parag A. Pathak, 2014. "Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge, Massachusetts," Journal of Political Economy, University of Chicago Press, vol. 122(3), pages 661-717.
    6. Krol, Robert & Svorny, Shirley, 2005. "The effect of rent control on commute times," Journal of Urban Economics, Elsevier, vol. 58(3), pages 421-436, November.
    7. Edward L. Glaeser & Erzo F. P. Luttmer, 2003. "The Misallocation of Housing Under Rent Control," American Economic Review, American Economic Association, vol. 93(4), pages 1027-1046, September.
    8. Rebecca Diamond & Tim McQuade & Franklin Qian, 2019. "Who Pays for Rent Control? Heterogeneous Landlord Response to San Francisco's Rent Control Expansion," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 377-380, May.
    9. Arnott, Richard & Shevyakhova, Elizaveta, 2014. "Tenancy rent control and credible commitment in maintenance," Regional Science and Urban Economics, Elsevier, vol. 47(C), pages 72-85.
    10. Brueckner, Jan K., 2011. "Lectures on Urban Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262016362, December.
    11. Assar Lindbeck, 1967. "Rent Control as an Instrument of Housing Policy," International Economic Association Series, in: Adela Adam Nevitt (ed.), The Economic Problems Of Housing, chapter 0, pages 53-72, Palgrave Macmillan.
    12. David H. Autor & Christopher J. Palmer & Parag A. Pathak, 2019. "Ending Rent Control Reduced Crime in Cambridge," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 381-384, May.
    13. Blair Jenkins, 2009. "Rent Control: Do Economists Agree?," Econ Journal Watch, Econ Journal Watch, vol. 6(1), pages 73-112, January.
    14. Gyourko, Joseph & Linneman, Peter, 1989. "Equity and efficiency aspects of rent control: An empirical study of New York City," Journal of Urban Economics, Elsevier, vol. 26(1), pages 54-74, July.
    15. Joseph Gyourko & Edward L. Glaeser, 2008. "Rethinking Federal Housing Policy," Books, American Enterprise Institute, number 50499, September.
    16. Moon, Choon-Geol & Stotsky, Janet G, 1993. "The Effect of Rent Control on Housing Quality Change: A Longitudinal Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1114-1148, December.
    17. Richard Arnott, 1995. "Time for Revisionism on Rent Control?," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 99-120, Winter.
    18. Philipp Deschermeier & Heide Haas & Marcel Hude & Michael Voigtländer, 2016. "A first analysis of the new German rent regulation," International Journal of Housing Policy, Taylor & Francis Journals, vol. 16(3), pages 293-315, July.
    19. Linneman, Peter, 1987. "The effect of rent control on the distribution of income among New York City renters," Journal of Urban Economics, Elsevier, vol. 22(1), pages 14-34, July.
    20. Nagy, John, 1997. "Do Vacancy Decontrol Provisions Undo Rent Control?," Journal of Urban Economics, Elsevier, vol. 42(1), pages 64-78, July.
    21. Olsen, Edgar O, 1972. "An Econometric Analysis of Rent Control," Journal of Political Economy, University of Chicago Press, vol. 80(6), pages 1081-1100, Nov.-Dec..
    22. Breidenbach, Philipp & Eilers, Lea & Fries, Jan, 2022. "Temporal dynamics of rent regulations – The case of the German rent control," Regional Science and Urban Economics, Elsevier, vol. 92(C).
    23. Rosen, Kenneth T & Smith, Lawrence B, 1983. "The Price-Adjustment Process for Rental Housing and the Natural Vacancy Rate," American Economic Review, American Economic Association, vol. 73(4), pages 779-786, September.
    24. Bruce C. Greenwald & Joseph E. Stiglitz, 1986. "Externalities in Economies with Imperfect Information and Incomplete Markets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(2), pages 229-264.
    25. Munch, Jakob Roland & Svarer, Michael, 2002. "Rent control and tenancy duration," Journal of Urban Economics, Elsevier, vol. 52(3), pages 542-560, November.
    26. Micheli, Martin & Schmidt, Torsten, 2015. "Welfare effects of rent control — A comparison of redistributive policies," Economic Modelling, Elsevier, vol. 48(C), pages 237-247.
    27. George Fallis & Lawrence B. Smith, 1985. "Price Effects of Rent Control on Controlled and Uncontrolled Rental Housing in Toronto: A Hedonic Index Approach," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 652-659, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Brian Asquith, 2019. "Do Rent Increases Reduce the Housing Supply Under Rent Control? Evidence from Evictions in San Francisco," Upjohn Working Papers 19-296, W.E. Upjohn Institute for Employment Research.
    2. Blair Jenkins, 2009. "Rent Control: Do Economists Agree?," Econ Journal Watch, Econ Journal Watch, vol. 6(1), pages 73-112, January.
    3. Mense, Andreas & Michelsen, Claus & Cholodilin, Konstantin A., 2017. "Empirics on the causal effects of rent control in Germany," FAU Discussion Papers in Economics 24/2017, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    4. Krol, Robert & Svorny, Shirley, 2005. "The effect of rent control on commute times," Journal of Urban Economics, Elsevier, vol. 58(3), pages 421-436, November.
    5. Konstantin A. Kholodilin, 2022. "Rent Control Effects through the Lens of Empirical Research: An almost Complete Review of the Literature," Discussion Papers of DIW Berlin 2026, DIW Berlin, German Institute for Economic Research.
    6. Andreas Mense & Claus Michelsen & Konstantin A. Kholodilin, 2019. "Rent Control, Market Segmentation, and Misallocation: Causal Evidence from a Large-Scale Policy Intervention," Discussion Papers of DIW Berlin 1832, DIW Berlin, German Institute for Economic Research.
    7. Ligia Topan & Miguel Jerez & Sonia Sotoca, 2020. "The impact of oil prices on products groups inflation: is the effect asymmetric?," Documentos de Trabajo del ICAE 2020-01, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    8. Konstantin A. Kholodilin & Andreas Mense & Claus Michelsen, 2016. "Market Break or Simply Fake? Empirics on the Causal Effects of Rent Controls in Germany," Discussion Papers of DIW Berlin 1584, DIW Berlin, German Institute for Economic Research.
    9. Mense, Andreas & Michelsen, Claus & Kholodilin, Konstantin A., 2023. "Rent Control, Market Segmentation, and Misallocation: Causal Evidence from a Large-Scale Policy Intervention," Journal of Urban Economics, Elsevier, vol. 134(C).
    10. Joan Monras & Jose G. Montalvo, 2023. "The Effect of Second-Generation Rent Controls: New Evidence from Catalonia," Working Paper Series 2023-28, Federal Reserve Bank of San Francisco.
    11. Enström Öst, Cecilia & Söderberg, Bo & Wilhelmsson, Mats, 2014. "Household allocation and spatial distribution in a market under (“soft”) rent control," Journal of Policy Modeling, Elsevier, vol. 36(2), pages 353-372.
    12. Joan Monràs & José Garcia Montalvo, 2021. "The effect of second generation rent controls: New evidence from Catalonia," Economics Working Papers 1836, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2022.
    13. Sims David P, 2011. "Rent Control Rationing and Community Composition: Evidence from Massachusetts," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-30, May.
    14. Gandhi, Sahil & Green, Richard K. & Patranabis, Shaonlee, 2022. "Insecure property rights and the housing market: Explaining India’s housing vacancy paradox," Journal of Urban Economics, Elsevier, vol. 131(C).
    15. Mark A. C. Kattenberg & Wolter H. J. Hassink, 2017. "Who Moves Out of Social Housing? The Effect of Rent Control on Housing Tenure Choice," De Economist, Springer, vol. 165(1), pages 43-66, March.
    16. Zheng, Diehang & Deng, Yongheng & Gordon, Peter & Dale-Johnson, David, 2007. "An examination of the impact of rent control on mobile home prices in California," Journal of Housing Economics, Elsevier, vol. 16(2), pages 209-242, June.
    17. Enström Öst, Cecilia & Johansson, Per, 2023. "The consequences of the Swedish rent control system on labor income: Evidence from a randomized apartment lottery," Journal of Public Economics, Elsevier, vol. 221(C).
    18. Micheli, Martin & Schmidt, Torsten, 2015. "Welfare effects of rent control — A comparison of redistributive policies," Economic Modelling, Elsevier, vol. 48(C), pages 237-247.
    19. Chen, Ruoyu & Jiang, Hanchen & Quintero, Luis E., 2022. "Measuring the Value of Rent Stabilization and Understanding its Implications for Racial Inequality: Evidence from New York City," GLO Discussion Paper Series 1102, Global Labor Organization (GLO).
    20. Ballesteros, Marife M. & Magtibay, Jasmine E. & Ramos, Tatum, 2016. "Rent Control in the Philippines: An Update," Discussion Papers DP 2016-40, Philippine Institute for Development Studies.

    More about this item

    Keywords

    Rent control; Regulation; Housing policy; Effciency; Equity.;
    All these keywords.

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hpe:journl:y:2023:v:246:i:3:p:165-206. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Miguel Gómez de Antonio (email available below). General contact details of provider: https://edirc.repec.org/data/iefgves.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.