The Japanese Tenant Protection Law and Asymmetric Information on Tenure Length
The Japanese Tenant Protection Law and Asymmetric Information on Tenure Length
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日本租户保护法与租期信息不对称
DOI：
10.1006/jhec.2002.0311
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发表时间：
2002
期刊：
影响因子：
--
通讯作者：
Shinichiro Iwata
中科院分区：
文献类型：
--
作者：
Shinichiro Iwata
摘要日本《房客保护法》（JTPL）规定，在租赁期结束时，房东不得在没有正当理由的情况下终止合同。因此，关于预期使用期限的信息对房东管理出租房屋很重要。开发了一个模型，其中房东无法预见潜在租户的预期租期。如果房东在租赁期限信息不对称的情况下充分规避风险，JTPL会减少租赁住房的均衡数量，导致日本租赁住房市场的低效率。
Abstract The Japanese Tenant Protection Law (JTPL) protects tenure security to such an extent that landlords cannot terminate a contract at the end of a tenancy period without just cause. Hence, information on intended tenure length is important for landlords in managing rental housing. A model is developed in which landlords cannot foresee the intended tenure length of prospective tenants. If landlords are sufficiently risk-averse under asymmetric information on tenure length, the JTPL reduces the equilibrium quantity of rental housing, resulting in inefficiency of the Japanese rental-housing market.