The Effect of Rent Control on Housing Quality Change: A Longitudinal Analysis

Autor:	Choon-Geol Moon, Janet Gale Stotsky
Rok vydání:	1993
Předmět:	Microeconomics Economics and Econometrics Public economics media_common.quotation_subject Economics State dependence Quality (business) Rental housing Rent control Markov model media_common
Zdroj:	Journal of Political Economy. 101:1114-1148
ISSN:	1537-534X 0022-3808
Popis:	It is widely believed that rent control leads to a decline in the quality of rental housing. This study examines the effect of rent control on the quality of rental housing in New York City. Quality change is linked to the suppression of rent below market levels and other characteristics of the housing unit. The authors develop a first-order nonstationary, heterogeneous Markov model that allows for true state dependence, observed heterogeneity, nonparametric unobserved heterogeneity, and a mover-stayer structure. The results offer some support for the belief that rent control leads to a deterioration in housing quality but suggest the need for additional investigation of this issue. Copyright 1993 by University of Chicago Press.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::0a74c7f3041f8377af0e9bad676d49dd https://doi.org/10.1086/261917 Zobrazit plný text záznamu Plný text ve formátu PDF