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Rent Control and Tenancy Duration

  • Jakob Roland Munch
  • Michael Svarer

    ()

    (Department of Economics, University of Aarhus, Denmark)

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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Length: 24
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Handle: RePEc:aah:aarhec:2001-7
Contact details of provider: Web page: http://www.econ.au.dk/afn/

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  1. Hackner, Jonas & Nyberg, Sten, 2000. " Rent Control and Prices of Owner-Occupied Housing," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(2), pages 311-24, June.
  2. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-90, October.
  3. Nagy John, 1995. "Increased Duration and Sample Attrition in New York City's Rent Controlled Sector," Journal of Urban Economics, Elsevier, vol. 38(2), pages 127-137, September.
  4. Masahiro Igarashi & Richard Arnott, 1993. "Rent Control, Mismatch Costs And Search Efficiency," Boston College Working Papers in Economics 214, Boston College Department of Economics.
  5. 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.
  6. Hans Lind, 2001. "Rent Regulation: A Conceptual And Comparative Analysis," International Journal of Housing Policy, Taylor & Francis Journals, vol. 1(1), pages 41-57.
  7. Hans Lind, 2001. "Rent Regulation: A Conceptual And Comparative Analysis," European Journal of Housing Policy, Taylor and Francis Journals, vol. 1(1), pages 41-57, April.
  8. Gyourko, Joseph & Linneman, Peter, 1990. "Measurement problems in quantifying the distributional effects of subsidy programs," Journal of Urban Economics, Elsevier, vol. 28(1), pages 19-33, July.
  9. Gyourko, Joseph & Linneman, Peter, 1990. "Rent controls and rental housing quality: A note on the effects of New York City's old controls," Journal of Urban Economics, Elsevier, vol. 27(3), pages 398-409, May.
  10. Anna M. Hardman & Yannis M. Ioannides, 1999. "Residential Mobility and the Housing Market in a Two-sector Neoclassical Growth Model," Discussion Papers Series, Department of Economics, Tufts University 9915, Department of Economics, Tufts University.
  11. W. A. V. Clark & Allan D. Heskin, 1982. "The Impact of Rent Control on Tenure Discounts and Residential Mobility," Land Economics, University of Wisconsin Press, vol. 58(1), pages 109-117.
  12. Richard Arnott, 1995. "Time for Revisionism on Rent Control?," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 99-120, Winter.
  13. 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.
  14. Alston, Richard M & Kearl, J R & Vaughan, Michael B, 1992. "Is There a Consensus among Economists in the 1990's?," American Economic Review, American Economic Association, vol. 82(2), pages 203-09, May.
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