Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/182023 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
Bundesbank Discussion Paper No. 30/2018
Verlag: 
Deutsche Bundesbank, Frankfurt a. M.
Zusammenfassung: 
We use a New Keynesian DSGE model with search frictions on the housing market to evaluate how financing a labor tax reduction by higher property taxation affects the real economy and welfare. Search on the housing market enables us to explicitly model stocks and flows, which is necessary to differentiate between recurrent property taxes (levied on stocks) and property transaction taxes (levied to flows). We find that using recurrent property taxation as financing instrument outperforms other instruments although all policy measures increase aggregate economy-wide welfare. Our simulations suggest that using property transaction taxation as financing instrument is the least favorable measure.
Schlagwörter: 
Search Frictions in Housing Markets
Property Taxation
Tax Reform
General Equilibrium
JEL: 
E51
E6
R31
K34
ISBN: 
978-3-95729-489-0
Dokumentart: 
Working Paper
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