Gobillon, Laurent; le Blanc, David - In: Journal of Housing Economics 17 (2008) 1, pp. 1-33
This article analyses some effects of the French upfront subsidy to homeownership called Prêt à Taux Zéro (PTZ) introduced in 1996. The PTZ can be viewed as a downpayment subsidy to low and middle-income first-time buyers. The effects of the subsidy are modelled by simulating the introduction...
