Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/240625 
Autor:innen: 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
FAU Discussion Papers in Economics No. 05/2021
Verlag: 
Friedrich-Alexander-Universität Erlangen-Nürnberg, Institute for Economics, Nürnberg
Zusammenfassung: 
I estimate the impact of new housing supply on the local rent distribution, exploiting weather shocks during the construction phase as an instrument. New supply decreases rents at all quality levels. Building on a quantitative dynamic model of housing quality and tenure choice, I explain this pattern by secondary housing supply: New supply to the owner-occupier market triggers a cascade of moves in the rental market, freeing up units across the housing quality spectrum. This mechanism has implications for housing policy, the integration of the housing market, and the integration of new- and used-product markets in general.
Schlagwörter: 
secondary markets
market integration
housing markets
rent distribution
dynamic housing choice
JEL: 
D15
D40
R21
R31
Dokumentart: 
Working Paper

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