Taxes and the fundamental value of houses

Jakob Madsen

    Research output: Contribution to journalArticle


    This paper constructs a general equilibrium model of housing prices which can be used to analyze the effects of various taxes on house prices and housing stock. It is shown that taxes have effects on the housing market that are quite different from the effects generated from the conventional user-cost-based models. Empirical estimates for the US show that taxes are highly influential for house prices in the short run as well as in the long run.
    Original languageEnglish
    Pages (from-to)365-376
    JournalRegional Science and Urban Economics
    Issue number3
    Publication statusPublished - 2009


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