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  1. Rent price control - yet another great equalizer of economic inequalities?
    evidence from a century of historical data
    Author: Kholodilin, Konstantin; Kohl, Sebastian
    Published: 2021
    Publisher:  DIW Berlin, German Institute for Economic Research, Berlin

    The long-run U-shaped patterns of economic inequality are standardly explained by basic economic trends (Piketty’s r>g), taxation policies, or “great levelers,” like catastrophes. This paper argues that housing policy, in particular rent control, is... more

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    Evangelische Hochschule Freiburg, Hochschulbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 14
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    The long-run U-shaped patterns of economic inequality are standardly explained by basic economic trends (Piketty’s r>g), taxation policies, or “great levelers,” like catastrophes. This paper argues that housing policy, in particular rent control, is a neglected explanatory factor in understanding overall inequality. We hypothesize that rent control could decrease overall housing wealth, lower incomes of generally richer landlords, and increase disposable incomes of generally poorer tenants. Using original long-run data for up to 16 countries (1900-2016), we show that rent controls lowered wealth-to-income ratios, top income shares, Gini-coefficients, rent increases, and rental expenditure. A counterfactual analysis using micro-data from the Luxembourg Income Study shows that rent controls could reduce rental expenditure of mostly lower-income tenants and rental incomes of mostly higher-income landlords. Overall, rent controls must be strict in order to have tangible effects and, historically, only strict rent controls have significantly reduced inequalities. The paper argues that housing policies should generally receive more attention in understanding economic inequalities.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/229900
    Series: Discussion papers / Deutsches Institut für Wirtschaftsforschung ; 1927
    Subjects: economic inequality; stratification; rent control
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  2. Why do people demand rent control?
    Author: Müller, Daniel; Gsottbauer, Elisabeth
    Published: [2021]
    Publisher:  Research platform Empirical and Experimental Economics, University of Innsbruck, Innsbruck, Austria

    We conduct a representative survey experiment in Germany to understand why people support inefficient policies. In particular, we measure beliefs about and preferences for rent control - a policy that is widely regarded as harmful by experts. To... more

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    We conduct a representative survey experiment in Germany to understand why people support inefficient policies. In particular, we measure beliefs about and preferences for rent control - a policy that is widely regarded as harmful by experts. To tease out causal mechanisms, we provide randomly selected subsets of participants with empirical estimates about the effects of rent control on rent prices and housing supply and with information about the consensus among economists against rent control. We find that people update their beliefs and that this leads to lower demand for rent control. Left-wingers update their beliefs more strongly, which reduces the ideological gap in support for rent control by about one-third. Providing information about economists' rejection of this policy leads to the largest reduction in support. However, the main drivers of support for rent control are fairness considerations and profit motives. Our study also highlights the importance of trust in expert advice since treatment effects are consistently larger among those who indicate trust in expert advice. Finally, an obfuscated follow-up survey conducted three weeks later reveals that the effects, both on support for rent control and on beliefs, persist only for those who trust.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/240448
    Series: Working papers in economics and statistics ; 2021, 20
    Subjects: beliefs; demand for bad policies; housing supply; rent control; survey experiment; trust in experts
    Scope: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  3. Gentrification and affordable housing policies
    Author: Borck, Rainald; Gohl, Niklas
    Published: 2021
    Publisher:  Universität Potsdam, Potsdam

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    Universität Potsdam, Universitätsbibliothek
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Edition: This version: December 02,2021
    Series: CEPA discussion papers ; No. 39
    Subjects: gentrification; housing market; rent control
    Scope: 1 Online-Ressource (51 Seiten, 2997 KB)
    Notes:

    Gesehen am 13.12.2021

    We use a quantitative spatial equilibrium model to evaluate the distributional and welfare impacts of a recent temporary rent control policy in Berlin, Germany. We calibrate the model to key features of Berlin’s housing market, in particular the recent gentrification of inner city locations. As expected, gentrification benefits rich homeowners, while poor renter households lose. Our counterfactual analysis mimicks the rent control policy. We find that this policy reduces welfare for rich and poor households and in fact, the percentage change in welfare is largest for the poorest households. We also study alternative affordable housing policies such as subsidies and re-zoning policies, which are better suited to address the adverse consequences of gentrification
  4. Gentrification and affordable housing policies
    Author: Borck, Rainald; Gohl, Niklas
    Published: November 2021
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    We use a quantitative spatial equilibrium model to evaluate the distributional and welfare impacts of a recent temporary rent control policy in Berlin, Germany. We calibrate the model to key features of Berlin’s housing market, in particular the... more

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    Verlag (kostenfrei)
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 63
    Inter-library loan:
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    We use a quantitative spatial equilibrium model to evaluate the distributional and welfare impacts of a recent temporary rent control policy in Berlin, Germany. We calibrate the model to key features of Berlin’s housing market, in particular the recent gentrification of inner city locations. As expected, gentrification benefits rich homeowners, while poor renter households lose. Our counterfactual analysis mimicks the rent control policy. We find that this policy reduces welfare for rich and poor households and in fact, the percentage change in welfare is largest for the poorest households. We also study alternative affordable housing policies such as subsidies and re-zoning policies, which are better suited to address the adverse consequences of gentrification.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/248999
    Series: CESifo working paper ; no. 9454 (2021)
    Subjects: rent control; housing market; gentrification
    Scope: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  5. Investment incentives of rent controls and gentrification: evidence from German micro data
    Author: Baye, Vera; Dinger, Valeriya
    Published: 2021
    Publisher:  Narodowy Bank Polski, Warsaw

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBP working paper ; no. 342
    Subjects: rent control; housing supply; regional data; rent-price ratio; gentrification; housing affordability
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  6. Gentrification and affordable housing policies
    Author: Borck, Rainald; Gohl, Niklas
    Published: 2021
    Publisher:  Universität Potsdam, Potsdam

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    Verlag (kostenfrei)
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    Location:
    Universität Potsdam, Universitätsbibliothek
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    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Edition: This version: December 02,2021
    Series: CEPA discussion papers ; No. 39
    Subjects: gentrification; housing market; rent control
    Scope: 1 Online-Ressource (51 Seiten, 2997 KB)
    Notes:

    Gesehen am 13.12.2021

    We use a quantitative spatial equilibrium model to evaluate the distributional and welfare impacts of a recent temporary rent control policy in Berlin, Germany. We calibrate the model to key features of Berlin’s housing market, in particular the recent gentrification of inner city locations. As expected, gentrification benefits rich homeowners, while poor renter households lose. Our counterfactual analysis mimicks the rent control policy. We find that this policy reduces welfare for rich and poor households and in fact, the percentage change in welfare is largest for the poorest households. We also study alternative affordable housing policies such as subsidies and re-zoning policies, which are better suited to address the adverse consequences of gentrification