Spatial Misallocation and Rent Controls
| Autor: | Pierre-Henri Bono, Etienne Wasmer, Guillaume Chapelle |
|---|---|
| Přispěvatelé: | Théorie économique, modélisation et applications (THEMA), Centre National de la Recherche Scientifique (CNRS)-CY Cergy Paris Université (CY) |
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: | |
| Zdroj: | AEA Papers and Proceedings AEA Papers and Proceedings, 2019, 109, pp.389-392. ⟨10.1257/pandp.20191024⟩ |
| ISSN: | 2574-0768 |
| Popis: | International audience; In many global cities the rental housing market is partially regulated. We document that the Paris housing market is dual: a flexible rent sector coexists with a large controlled rent sector. The two sectors have very different rent gradients towards the center of the agglomeration. We develop a model explicitly accounting for these features which allows to investigate general equilibrium effects of rent controls at the city level. In this framework the coexistence of a controlled and flexible rent sector increases the spatial misallocation of households. This mismatch can generally be alleviated by an improvement in urban transport infrastructures. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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