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dc.contributor.author
O'Toole, Conor
dc.contributor.author
Martinez-Cillero, Maria
dc.contributor.author
Ahrens, Achim
dc.date.accessioned
2021-08-13T11:54:12Z
dc.date.available
2021-08-13T11:54:12Z
dc.date.issued
2021-06
dc.identifier.issn
1051-1377
dc.identifier.issn
1096-0791
dc.identifier.other
10.1016/j.jhe.2021.101769
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/500899
dc.description.abstract
In this paper, we explore the impact of a 4 per cent inflation control on price changes for rental contracts in Ireland. Testing across the price distribution, we explore the cap’s impact on the share of the market experiencing: 1) a price decline; 2) unchanged rents (nominal rigidity); 3) a positive growth rate below the cap; 4) the maximum allowable growth (4%); and 5) growth above the cap. Our identification strategy uses a contiguous border difference-in-difference approach on a novel property-level tenancy panel. We find the overall rent growth rate fell by 1–2 percentage points following the regulations. However, we find different impacts across the distribution: not all high growth rates converged to the cap as the distribution generally shifted to the left and nominal rigidity rose. Furthermore, we find some inflationary pressures on rents that previously were unchanged as landlords priced up to the cap. Heterogeneous effects by company or household landlord are evident © 2021 Elsevier Inc.
en_US
dc.language.iso
en
en_US
dc.publisher
Academic Press
en_US
dc.subject
Rent control
en_US
dc.subject
Nominal rigidity
en_US
dc.subject
Price stickiness
en_US
dc.subject
Ireland
en_US
dc.title
Price regulation, inflation, and nominal rigidity in housing rents
en_US
dc.type
Journal Article
ethz.journal.title
Journal of Housing Economics
ethz.journal.volume
52
en_US
ethz.pages.start
101769
en_US
ethz.size
16 p.
en_US
ethz.identifier.wos
ethz.identifier.wos
ethz.identifier.scopus
ethz.publication.place
Maryland Heights, MO
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02045 - Dep. Geistes-, Sozial- u. Staatswiss. / Dep. of Humanities, Social and Pol.Sc.::09606 - Hangartner, Dominik / Hangartner, Dominik
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02045 - Dep. Geistes-, Sozial- u. Staatswiss. / Dep. of Humanities, Social and Pol.Sc.::09606 - Hangartner, Dominik / Hangartner, Dominik
ethz.date.deposited
2021-07-15T10:18:15Z
ethz.source
WOS
ethz.eth
yes
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.installDate
2021-08-13T11:54:21Z
ethz.rosetta.lastUpdated
2022-03-29T11:12:50Z
ethz.rosetta.versionExported
true
dc.identifier.olduri
http://hdl.handle.net/20.500.11850/494746
dc.identifier.olduri
http://hdl.handle.net/20.500.11850/494745
ethz.COinS
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