Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge, Massachusetts
Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge, Massachusetts
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住房市场溢出：来自马萨诸塞州剑桥市租金管制结束的证据
DOI：
10.2139/ssrn.2066169
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发表时间：
2012
影响因子：
8.2
通讯作者：
Parag A. Pathak
中科院分区：
文献类型：
--
作者：
David H. Autor;C. Palmer;Parag A. Pathak
我们通过研究 1995 年马萨诸塞州剑桥市意外取消的严格租金管制来衡量住房市场外部性在住宅价值中的资本化。通过汇总 1988 年至 2005 年间剑桥住宅物业的评估价值和交易价格的数据，我们发现租金管制的解除导致了解除管制的单元和附近从未受管制的单元的大幅、强劲的价格上涨，占这一时期剑桥住宅物业增值 78 亿美元的四分之一。这一贡献的大部分源于从未控制的财产的诱导升值。住宅投资仅占总数的一小部分。
We measure the capitalization of housing market externalities into residential housing values by studying the unanticipated elimination of stringent rent controls in Cambridge, Massachusetts, in 1995. Pooling data on the universe of assessed values and transacted prices of Cambridge residential properties between 1988 and 2005, we find that rent decontrol generated substantial, robust price appreciation at decontrolled units and nearby never-controlled units, accounting for a quarter of the $7.8 billion in Cambridge residential property appreciation during this period. The majority of this contribution stems from induced appreciation of never-controlled properties. Residential investment explains only a small fraction of the total.
影响因子：
13.7
作者：
Genesove, D;Mayer, C
通讯作者：
Mayer, C