Housing Adjustment Costs: Their Impact on Mobility and Housing Demand Elasticities
Housing Adjustment Costs: Their Impact on Mobility and Housing Demand Elasticities
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住房调整成本：对流动性和住房需求弹性的影响
DOI：
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发表时间：
1988
期刊：
影响因子：
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通讯作者：
Michael J. Potepan
中科院分区：
文献类型：
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作者：
Oskar Harmon;Michael J. Potepan
住房调整成本在影响流动性决定方面的作用以及这些成本与住房需求之间的关系还没有得到很好的理解。在这里，我们试图研究调整成本的变化以及收入等需求因素的变化如何影响家庭通过搬家来调整住房消费的决定。从经验上讲，我们使用的样本最近移动业主从PSID和提供的证据表明，调整成本比其他需求因素更重要的影响流动性的决定。我们还认为，样本选择可能会偏向估计住房需求弹性时，样本仅限于最近的搬家者，因为在流动性决策的调整成本的影响不占。然而，使用Heckman两阶段程序对此进行的测试表明，这不是一个重大问题。版权所有美国真实的房地产和城市经济协会。
The role of housing adjustment costs in influencing mobility decisions, and the relationship between these and housing demands is not well understood. Here we try to examine how changes in adjustment costs as well as in such demand factors as income, influence the decision of households to adjust their housing consumption through moving. Empirically, we use a sample of recently moving homeowners from the PSID and provide evidence indicating adjustment costs are more important than other demand factors in influencing mobility decisions. We also argue that sample selection may bias estimates of housing demand elasticities when the sample is restricted to recent movers because the influence of adjustment costs in the mobility decision are not accounted for. Testing for this using the Heckman two-stage procedure, however, showed this was not a significant problem. Copyright American Real Estate and Urban Economics Association.