Can Property Taxes Reduce House Price Volatility? Evidence from U.S. Regions
Title | Can Property Taxes Reduce House Price Volatility? Evidence from U.S. Regions PDF eBook |
Author | Mr.Tigran Poghosyan |
Publisher | International Monetary Fund |
Pages | 26 |
Release | 2016-11-10 |
Genre | Business & Economics |
ISBN | 1475552793 |
We use a novel dataset on effective property tax rates in U.S. states and metropolitan statistical areas (MSAs) over the 2005–2014 period to analyze the relationship between property tax rates and house price volatility. We find that property tax rates have a negative impact on house price volatility. The impact is causal, with increases in property tax rates leading to a reduction in house price volatility. The results are robust to different measures of house price volatility, estimation methodologies, and additional controls for housing demand and supply. The outcomes of the analysis have important policy implications and suggest that property taxation could be used as an important tool to dampen house price volatility.
OECD Economic Surveys: Euro Area 2010
Title | OECD Economic Surveys: Euro Area 2010 PDF eBook |
Author | OECD |
Publisher | OECD Publishing |
Pages | 167 |
Release | 2010-12-13 |
Genre | |
ISBN | 9264090010 |
The 2010 edition of OECD's periodic review of the Euro area economy. This edition includes chapters covering exiting from the crisis, resolving unsustainable imbalances, rebuilding public finances and fiscal discipline and minimising risks from imbalances in European banking.
OECD Economic Surveys: Euro Area 2004
Title | OECD Economic Surveys: Euro Area 2004 PDF eBook |
Author | OECD |
Publisher | OECD Publishing |
Pages | 211 |
Release | 2004-07-29 |
Genre | |
ISBN | 9264106561 |
OECD’s 2004 Economic Review of the Euro area puts forward a number of policy recommendations that seek to heighten the area’s resilience against adverse shocks. This edition’s special feature is titled Regions at Work.
House Price Developments in Europe
Title | House Price Developments in Europe PDF eBook |
Author | Angana Banerji |
Publisher | International Monetary Fund |
Pages | 66 |
Release | 2008-09-01 |
Genre | Business & Economics |
ISBN | 1451870698 |
House prices in Europe have shown diverging trends, and this paper seeks to explain these differences by analyzing three groups of countries: the "fast lane", the average performers, and the slow movers. Price movements in the first two groups are found to be driven mostly by income and trends in user costs, and housing markets in these countries seem relatively more susceptible to adverse developments in fundamentals. Real house price declines among the slow movers are harder to explain, although ample supply, low home ownership, and less complete mortgage markets are likely factors. The impact of macroeconomic, prudential and structural policies on housing markets can be large and should be a factor in policy decisions.
Housing Market Challenges in Europe and the United States
Title | Housing Market Challenges in Europe and the United States PDF eBook |
Author | P. Arestis |
Publisher | Springer |
Pages | 283 |
Release | 2009-11-18 |
Genre | Business & Economics |
ISBN | 0230246982 |
Housing finance structures and Institutional and regulatory/fiscal aspects in housing have changed significantly in recent years. This book examines the development in housing markets in Europe and the US, and looks at ways to make housing more affordable and housing market developments more stable.
Bubbles in Real Estate?
Title | Bubbles in Real Estate? PDF eBook |
Author | Daniel Gros |
Publisher | CEPS |
Pages | 15 |
Release | 2006 |
Genre | Housing |
ISBN | 9290796154 |
Building the Financial Foundations of the Euro: Experiences and Challenges
Title | Building the Financial Foundations of the Euro: Experiences and Challenges PDF eBook |
Author | Lars Jonung |
Publisher | Taylor & Francis |
Pages | 464 |
Release | |
Genre | |
ISBN | 1857434862 |
Examines the effect of the introduction of the Euro and the establishment of economic and monetary union on the financial landscape of Europe.