Housing, prices and tax policy in Spain

Miguel Angel Lopez-Garcia

doi:https://doi.org/10.1007/s10108-003-0074-y

Housing, prices and tax policy in Spain

Miguel Angel Lopez-Garcia

Department of Applied Economics

Research output: Contribution to journal › Article › Research › peer-review

12 Citations (Scopus)

Abstract

This paper analyses the consequences of different tax policies upon the evolution of housing prices and residential capital stock (in the form of home ownership) in Spain. The framework is a computational aggregate model of housing as an asset. Policies under consideration are the removal of housing subsidies implicit in the personal income tax and the introduction of "investment incentives" in housing (i.e., policies addressed specifically to newly-produced housing). Both long-run effects and dynamic trajectories are discussed herein. With regards to the latter, distinction is made between those situations in which economic agents have rational expectations (i.e., perfect foresight) and static expectations. © Springer-Verlag 2004.

Original language	English
Pages (from-to)	29-52
Journal	Spanish Economic Review
Volume	6
DOIs	https://doi.org/10.1007/s10108-003-0074-y
Publication status	Published - 1 Dec 2004

Keywords

Dynamic simulation models
Housing subsidies
Saving and investment incentives
Tax reform

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Lopez-Garcia, M. A. (2004). Housing, prices and tax policy in Spain. Spanish Economic Review, 6, 29-52. https://doi.org/10.1007/s10108-003-0074-y

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