Measuring the Efficiency Cost of Rent Control
作者:
Donald F. Vitaliano,
期刊:
Real Estate Economics
(WILEY Available online 1986)
卷期:
Volume 14,
issue 1
页码: 61-71
ISSN:1080-8620
年代: 1986
DOI:10.1111/1540-6229.00369
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
This paper estimates the burden of lost producer surplus imposed on landlords by rent control. The approach employed measures the reduction in Marshallian quasi‐rent from the side of the derived demand for factors rather than the short‐run supply of housing.A constant elasticity of substitution production function is employed to derive the input demand equation. The equation is estimated using post‐war rent control data from five major New York State cities. It turns out that rent control reduced quasi‐rent about 15%. The deadweight loss is estimated at 1.5% of gross rental payments or about 5% of net income before debt
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