Spatial Misallocation and Rent Controls - Archive ouverte HAL
Article Dans Une Revue American Economic Review Papers and Proceedings Année : 2019

Spatial Misallocation and Rent Controls

Résumé

In many global cities the rental housing market is partially regulated. We document that the Paris housing market is dual: a flexible rent sector coexists with a large controlled rent sector. The two sectors have very different rent gradients towards the center of the agglomeration. We develop a model explicitly accounting for these features which allows to investigate general equilibrium effects of rent controls at the city level. In this framework the coexistence of a controlled and flexible rent sector increases the spatial misallocation of households. This mismatch can generally be alleviated by an improvement in urban transport infrastructures.
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hal-03472312 , version 1 (09-12-2021)

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Guillaume Chapelle, Etienne Wasmer, Pierre-Henri Bono. Spatial Misallocation and Rent Controls. American Economic Review Papers and Proceedings, 2019, 109, pp.389-392. ⟨10.1257/pandp.20191024⟩. ⟨hal-03472312⟩
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