抵押贷款利息扣除的地理位置

IF 5.7 1区经济学 Q1 ECONOMICS

Journal of Urban Economics Pub Date : 2023-10-13 DOI:10.1016/j.jue.2023.103604

Yashar Blouri , Simon Büchler , Olivier Schöni

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引用次数: 1

摘要

我们研究了美国联邦抵押贷款利息扣除（MID）对家庭位置和保有权决策的异质影响。我们开发了一个具有非同质偏好的空间一般均衡模型，在该模型中，家庭可以选择是申请MID还是标准税收减免。废除MID会更有力地降低中部地区的住房拥有率，因为自住业主会迁移到农村。福利略有增加，因为不那么拥挤的住房市场和不失真的保有权决定带来的正外部性超过了中心地区的生产力损失。2018年《减税和就业法案》实施的标准税收减免额的增加也导致了类似的福利增长。

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The geography of mortgage interest deductions

We investigate the heterogeneous impact of the US federal mortgage interest deduction (MID) on households’ location and tenure decisions. We develop a spatial general-equilibrium model featuring non-homothetic preferences in which households can choose whether to claim the MID or a standard tax deduction. Repealing the MID decreases homeownership rates more strongly in central areas because owner-occupiers migrate to the countryside. Welfare increases slightly because positive externalities from less congested housing markets and undistorted tenure decisions outweigh productivity losses in central locations. An increase in standard tax deductions, as implemented in 2018 by the Tax Cuts and Jobs Act, leads to a similar welfare increase.

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来源期刊

Journal of Urban Economics Multiple-

CiteScore

10.60

自引率

4.80%

发文量

期刊介绍： The Journal of Urban Economics provides a focal point for the publication of research papers in the rapidly expanding field of urban economics. It publishes papers of great scholarly merit on a wide range of topics and employing a wide range of approaches to urban economics. The Journal welcomes papers that are theoretical or empirical, positive or normative. Although the Journal is not intended to be multidisciplinary, papers by noneconomists are welcome if they are of interest to economists. Brief Notes are also published if they lie within the purview of the Journal and if they contain new information, comment on published work, or new theoretical suggestions.