How responsive are housing markets in the OECD? National level estimates:
The trend rise of house prices in many OECD countries suggests weakness in the adjustment of supply to demand. This paper estimates long-term elasticities of housing supply to prices in OECD countries before exploring their drivers with a focus on policies. It finds a significant association between...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2019
|
| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The trend rise of house prices in many OECD countries suggests weakness in the adjustment of supply to demand. This paper estimates long-term elasticities of housing supply to prices in OECD countries before exploring their drivers with a focus on policies. It finds a significant association between weaker supply responsiveness and a proxy measure for more restrictive land-use regulation. Besides, tighter rent controls are linked with lower supply elasticities. In turn, weak supply responsiveness implies that house prices rise more following stronger demand. The sensitivity of house prices to household income is also higher in countries that provide larger amounts of tax relief for homeowners |
| Beschreibung: | 1 Online-Ressource (42 Seiten) |
| DOI: | 10.1787/4777e29a-en |
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| spelling | Cavalleri, Maria Chiara Verfasser aut How responsive are housing markets in the OECD? National level estimates Maria Chiara Cavalleri, Boris Cournède and Ezgi Özsöğüt Paris OECD Publishing 2019 1 Online-Ressource (42 Seiten) txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers The trend rise of house prices in many OECD countries suggests weakness in the adjustment of supply to demand. This paper estimates long-term elasticities of housing supply to prices in OECD countries before exploring their drivers with a focus on policies. It finds a significant association between weaker supply responsiveness and a proxy measure for more restrictive land-use regulation. Besides, tighter rent controls are linked with lower supply elasticities. In turn, weak supply responsiveness implies that house prices rise more following stronger demand. The sensitivity of house prices to household income is also higher in countries that provide larger amounts of tax relief for homeowners Economics Cournède, Boris ctb Özsöğüt, Ezgi ctb https://doi.org/10.1787/4777e29a-en Verlag kostenfrei Volltext |
| spellingShingle | Cavalleri, Maria Chiara How responsive are housing markets in the OECD? National level estimates Economics |
| title | How responsive are housing markets in the OECD? National level estimates |
| title_auth | How responsive are housing markets in the OECD? National level estimates |
| title_exact_search | How responsive are housing markets in the OECD? National level estimates |
| title_exact_search_txtP | How responsive are housing markets in the OECD? National level estimates |
| title_full | How responsive are housing markets in the OECD? National level estimates Maria Chiara Cavalleri, Boris Cournède and Ezgi Özsöğüt |
| title_fullStr | How responsive are housing markets in the OECD? National level estimates Maria Chiara Cavalleri, Boris Cournède and Ezgi Özsöğüt |
| title_full_unstemmed | How responsive are housing markets in the OECD? National level estimates Maria Chiara Cavalleri, Boris Cournède and Ezgi Özsöğüt |
| title_short | How responsive are housing markets in the OECD? National level estimates |
| title_sort | how responsive are housing markets in the oecd national level estimates |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/4777e29a-en |
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