Showing 1 - 10 of 10
Persistent link: https://www.econbiz.de/10014327172
This paper uses a unique data set on more than 600,000 mortgage contracts to estimate a credit supply function which allows for risk-heterogeneity. Non-linearity is modelled using quantile regressions. We propose an instrumental variable approach in which changes in the tax treatment of housing...
Persistent link: https://www.econbiz.de/10008695862
The paper seeks to analyze the distribution of real estate assets among Brazilian families and Imposto Predial e Territorial Urbano (IPTU) - property tax - their main form of taxation. The text points out that real estate property usufruct is more concentrated than family income itself, despite...
Persistent link: https://www.econbiz.de/10012053323
We use a New Keynesian DSGE model with a rental housing market to evaluate how financing a labor tax wedge reduction through higher property taxation affects the real economy and welfare. We find that a labor tax wedge reduction generates favorable macroeconomic effects and improves...
Persistent link: https://www.econbiz.de/10011963208
Persistent link: https://www.econbiz.de/10011938769
We use a New Keynesian DSGE model with search frictions on the housing market to evaluate how financing a labor tax reduction by higher property taxation affects the real economy and welfare. Search on the housing market enables us to explicitly model stocks and flows, which is necessary to...
Persistent link: https://www.econbiz.de/10011897973
We quantify the housing-consumption channel in mortgage demand according to which households borrow more following house-price increases since housing and non-housing consumption are imperfect substitutes. To identify this channel, we take a structural approach to mortgage demand and supply,...
Persistent link: https://www.econbiz.de/10014633602
Persistent link: https://www.econbiz.de/10015045095
We exploit staggered real estate transaction tax (RETT) hikes across German states to identify the effect of house price changes on mortgage credit supply. Based on approximately 33 million real estate online listings, we construct a quarterly hedonic house price index (HPI) between 2008:q1 and...
Persistent link: https://www.econbiz.de/10012433677
We analyze the welfare implications of property taxation. Using a sufficient statistics approach, we show that the tax incidence depends on how housing prices, labor and other types of incomes as well as public services respond to property tax changes. Empirically, we exploit the German...
Persistent link: https://www.econbiz.de/10012485514