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Essays in Housing Markets and Public Finance
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| 자료유형 | 학위논문 |
|---|---|
| 서명/저자사항 | Essays in Housing Markets and Public Finance. |
| 개인저자 | Davis, Matthew. |
| 단체저자명 | University of Pennsylvania. Applied Economics. |
| 발행사항 | [S.l.]: University of Pennsylvania., 2019. |
| 발행사항 | Ann Arbor: ProQuest Dissertations & Theses, 2019. |
| 형태사항 | 189 p. |
| 기본자료 저록 | Dissertations Abstracts International 81-02A. Dissertation Abstract International |
| ISBN | 9781085626132 |
| 학위논문주기 | Thesis (Ph.D.)--University of Pennsylvania, 2019. |
| 일반주기 |
Source: Dissertations Abstracts International, Volume: 81-02, Section: A.
Advisor: Ferreira, Fernando. |
| 이용제한사항 | This item must not be sold to any third party vendors. |
| 요약 | This dissertation comprises three research papers on topics at the intersection of housing markets, taxation, and the provision of local public goods. In Chapter 1, I study the economic incidence of the mortgage interest tax deduction -- a widespread, expensive, and regressive tax expenditure -- by combining a sufficient-statistics approach with direct estimates of the induced effect on house prices. I start with a flexible economic framework that expresses the policy's distributional impact in terms of a key parameter: the capitalization effect, or the extent to which the deduction increases house prices. I then directly estimate this parameter, drawing on a national database of housing transactions and exploiting sharp variation in tax rates and itemization rules at state borders. Comparing the sale prices of observationally identical homes purchased on either side of a border, I find that a one percentage point increase in the tax rate applied to mortgage interest increases house prices by 0.8%, which is sufficient to erase the tax savings for a first-time borrower when their loan-to-value ratio is under 60%. Finally, I combine the empirical result and the derived incidence expressions to show the distribution of the policy's impacts among new home-buyers. Accounting for non-itemization rates indicates that average buyers at most incomes do not benefit from the MID, though there is some heterogeneity across income levels and housing markets.Chapter 2 (joint with Fernando Ferreira) proposes and measures a new mechanism underlying the 41% real increase in per-pupil spending between 1990 and 2009. ''Housing disease'' is a fiscal externality originating in local housing markets in which unexpected booms generate extra revenues that schools administrators have incentives to spend, independent of local preferences for provision of public goods. We establish the importance of housing disease by: (i) assembling a novel microdata set containing the universe of housing transactions for a large sample of school districts |
| 일반주제명 | Economic theory. |
| 언어 | 영어 |
| 바로가기 | 
: 이 자료의 원문은 한국교육학술정보원에서 제공합니다. |
