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李筱璐和Yang Tang合作的论文“When Natives Meet Immigrants in Public and Private Housing Markets”已经被国际期刊Journal of Housing Economics正式接受发表 发布时间:2017-08-28  浏览次数:

李筱璐Yang Tang合作的论文When Natives Meet Immigrants in Public and Private Housing Markets已经被国际期刊Journal of Housing Economics正式接受发表。

摘要:Many countries provide inexpensive public housing to citizens and residents, whereas foreigners are only allowed to purchase relatively scarce and expensive private housing. Undoubtedly, the growth in native (foreign) population size will directly contribute to higher public (private) housing price, and indirectly induce higher private (public) housing price via general equilibrium effects. In this paper, we propose a dynamic general equilibrium framework to quantitatively evaluate the magnitude of each impact. We calibrate the model into the Singapore economy between 1993 and 2015. The model accounts for about 85.7 percent of private housing price growth and 46.2 percent of public housing growth in the data. The decomposition exercises suggest that native population growth can generate about 67.0 percent of private housing price growth, while the growth of the foreign population can generate about 7.05 percent of public housing price growth.

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