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The mortgage interest deduction and its impact on homeownership decisions

Hilber, Christian A. L.; Turner, Tracy M. - London School of Economics (LSE) - 2014

This paper examines the impact of the combined U.S. state and federal mortgage interest deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting variation in the subsidy arising from changes in the MID within and across states over time. We test whether...

Persistent link: https://www.econbiz.de/10011126437

The mortgage interest deduction and its impact on homeownership decisions

Hilber, Christian A. L.; Turner, Tracy M. - London School of Economics (LSE) - 2010

This paper examines the impact of the combined U.S. state and federal mortgage interest deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting variation in the subsidy across states, over time and due to inter-state moves. We test whether capitalization of the...

Persistent link: https://www.econbiz.de/10010884709

Local economic conditions and the nature of new housing supply

Hilber, Christian A. L.; Rouwendal, Jan; Vermeulen, Wouter - London School of Economics (LSE) - 2014

We present a modified open monocentric city model that assumes that land is available for conversion into new housing throughout the city. The model predicts that positive local income shocks (i) increase the city’s share of multi-family housing in new construction and (ii) lead to the...

Persistent link: https://www.econbiz.de/10011277213

Productivity as if space mattered: an application to factor markets across China

Cheng, Wenya; Morrow, John; Tacharoen, Kitjawat - London School of Economics (LSE) - 2012

Optimal production decisions depend on local market characteristics. This paper develops a model to explain firm labor demand and firm density across regions. Firms vary in their technology to combine imperfectly substitutable worker types, and locate across regions with distinct distributions...

Persistent link: https://www.econbiz.de/10010746456

The territorial dynamics of innovation in China and India

Crescenzi, Riccardo; Rodríguez-Pose, Andrés; Storper, … - London School of Economics (LSE) - 2012

This article analyses the geography of innovation in China and India. Using a tailor-made panel database for regions in … between the provinces and states within both countries are quite different. In China, the concentration of innovation is …. Innovative areas in China, rather than generate knowledge spillovers, seem to produce strong backwash effects. In India, by …

Persistent link: https://www.econbiz.de/10011125988

On the origins of land use regulations: theory and evidence from US metro areas

Hilber, Christian A. L.; Robert-Nicoud, Frédéric - London School of Economics (LSE) - 2009

We model residential land use constraints as the outcome of a political economy game between owners of developed and owners of undeveloped land. Land use constraints benefit the former group (via increasing property prices) but hurt the latter (via increasing development costs). More desirable...

Persistent link: https://www.econbiz.de/10010744861

Owners of developed land versus owners of undeveloped land: why land use is more constrained in the Bay Area than in Pittsburgh

Hilber, Christian A. L.; Robert-Nicoud, Frédéric - London School of Economics (LSE) - 2006

We model residential land use constraints as the outcome of a political economy game between owners of developed and owners of undeveloped land. Land use constraints are interpreted as shadow taxes that increase the land rent of already developed plots and reduce the amount of new housing...

Persistent link: https://www.econbiz.de/10010744876

No escape? The co-ordination problem in heritage preservation

Ahlfeldt, Gabriel M.; Holman, Nancy - London School of Economics (LSE) - 2013

Conservation areas (CAs) are among the most restrictive English planning policies. Designation implies a significant limitation of owners’ control over the shape and appearance of their properties. The policy, however, can also be argued to solve a sort of ‘prisoners’ dilemma’, in which...

Persistent link: https://www.econbiz.de/10010745091

Homeownership and land use controls: a dynamic model with voting and lobbying

Hilber, Christian A. L.; Robert-Nicoud, Frédéric - London School of Economics (LSE) - 2007

Homeowners have incentives to control and limit local land development and anecdotic evidence suggests that ‘homevoters’ indeed actively support restrictive measures. Yet, US metro area level homeownership rates are strongly negatively related to corresponding measures of the restrictiveness...

Persistent link: https://www.econbiz.de/10010745559

Office space supply restrictions in Britain: the political economy of market revenge

Cheshire, Paul; Hilber, Christian A.L. - London School of Economics (LSE) - 2008

Office space in Britain is the most expensive in the world and regulatory constraints are the obvious explanation. We estimate the ‘regulatory tax’ for 14 British office locations from 1961 to 2005. These are orders of magnitude greater than estimates for Manhattan condominiums or office...

Persistent link: https://www.econbiz.de/10010745655

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