A simulation analysis of consumer housing choices in an inflationary environment
James Alm, James R. Follain, Maxwell Graduate School of Citizenship and Public Affairs. Metropolitan Studies Program
Metropolitan Studies Program, Maxwell School of Citizenship and Public Affairs, Syracuse University, 1981 - Business & Economics - 50 pages
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15 percent inflation after-tax user cost alternative mortgage instruments anticipated inflation assumed basis points budget constraint CHANGES IN HOUSING consumption consumption function dollars econometric Economics effect of inflation Follain fraction of income GPM upon housing graduated payment mortgage Hendershott 1980 homeownership household chooses housing choices housing in period Housing Services Demanded income tax inflation increases inflation on housing inflationary expectations initial wealth Interest Rate Differential Kearl lenders level of utility liquidity constraints liquidity problems loan Lump Sum marginal tax rate Michael Lea mortgage payment constraint nominal interest rate nominal mortgage rate non-housing number of periods owner-occupied housing percent graduation rate percent inflation rate percent inflationary environment Public Admin rate of anticipated rates of inflation reduction results suggest Rosen and Rosen simulation analysis simulation model standard fixed payment SYRACUSE UNIVERSITY TABLE A-l tax subsidy tenure choice Tobin and Dolde various liquidity willingness to pay Xi Xi