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Capitalisation of Fiscal Variables and Land Scarcity

Title data

Stadelmann, David ; Billon, Steve:
Capitalisation of Fiscal Variables and Land Scarcity.
In: Urban Studies. Vol. 49 (2012) Issue 7 . - pp. 1571-1594.
ISSN 1360-063X
DOI: https://doi.org/10.1177/0042098011415433

Abstract in another language

Fiscal packages usually capitalise into house prices. Yet if enough land for construction is available, housing developers could supply new houses and capitalisation may disappear. This paper provides a theoretical model in which income taxes and public services capitalise at lower rates when housing supply elasticity increases. Using an empirical linear interaction model, we estimate the impact of available land for construction on capitalisation rates with a panel of Swiss communities. Results indicate that fiscal variables do not capitalise differently in communities where housing supply is constrained by land availability. Thus, land availability is a necessary but not sufficient condition for capitalisation to disappear.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: REAL property; HOUSING development; INCOME tax; ECONOMIC aspects; MUNICIPAL services
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Economics > Professorship Development Economics > Professorship Development Economics - Univ.-Prof. Dr. David Stadelmann
Profile Fields > Emerging Fields > Governance and Responsibility
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics > Professorship Development Economics
Profile Fields
Profile Fields > Emerging Fields
Result of work at the UBT: No
DDC Subjects: 300 Social sciences > 320 Political science
300 Social sciences > 330 Economics
300 Social sciences > 350 Public admininistration, military science
Date Deposited: 01 Dec 2014 08:32
Last Modified: 26 Apr 2018 09:43
URI: https://eref.uni-bayreuth.de/id/eprint/3303