Housing Policies for Asia: A Theoretical Analysis by Use of a Demand and Supply Model
Yoshino, Naoyuki; Helble, Matthias; Aizawa, Toshiaki | April 2015
Abstract
The main objective of this paper is to give an overview of the most commonly used housing policies and to illustrate their economic impact. To facilitate the analysis, we first introduce a simple two-period housing demand model for owner-occupied houses and rental houses. We then add a standard stock-flow housing supply model. Using this modelling framework, we explain the qualitative effects of various housing policies on supply and demand. In the last section of the paper, we provide a quantitative estimation of the impact of each policy and assess its effectiveness using a simple analysis of cost effectiveness. We hope that the model’s versatility makes it a simple tool for policymakers to better understand the economic consequences of various housing policies.
Citation
Yoshino, Naoyuki; Helble, Matthias; Aizawa, Toshiaki. 2015. Housing Policies for Asia: A Theoretical Analysis by Use of a Demand and Supply Model. © Asian Development Bank Institute. http://hdl.handle.net/11540/9644.Keywords
Rural planning
Economic development
Economic indicators
Standard of living
Development projects
Development policy
Housing projects
Development models
Social reform
Urban planning
Public Borrowing
Credit Policy
Banks
Cultural Development
Development Economics
Development Issues
Financial Sector Development
Infrastructure Development
Urban Development Finance
Financing
Financial System
Financial Sector Reform
Financial Institution
Bank Financing
Real estate development
Housing development
Community banks
Mortgage banks
Housing policy
Tax administration and procedure
Real property and taxation
Property tax
Credit control
Banks and banking
Title companies
Tax deductions
Accounts
Savings
Inheritance and transfer tax
Trusts and trustees
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