Estimating the Benefits of the Korean Public Housing Program for Low-Income Families Under Non-Homothetic Preference
0
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
It is widely accepted that public rental housing programs affect both the allocation of resources and the distribution of welfare. This paper explains institutional arrangements of public housing program in Korea and assesses the benefits of the program. In contrast to the previous studies which employed homothetic preferences, the benefits of the public housing were estimated based on non-homothetic preferences to allow for different income effects across households. Empirical results suggest that average benefit-cost ratio of public housing program is 0.91, and hence, the deadweight loss seems to be well-contained in Korean public housing program compared to other countries. However, the distribution of the benefits reveals that the transmission of the benefits should be improved to achieve the desired goals of residential welfare for low income families.
Abstract
It is widely accepted that public rental housing programs affect both the allocation of resources and the distribution of welfare. This paper explains institutional arrangements of public housing program in Korea and assesses the benefits of the program. In contrast to the previous studies which employed homothetic preferences, the benefits of the public housing were estimated based on non-homothetic preferences to allow for different income effects across households. Empirical results suggest that average benefit-cost ratio of public housing program is 0.91, and hence, the deadweight loss seems to be well-contained in Korean public housing program compared to other countries. However, the distribution of the benefits reveals that the transmission of the benefits should be improved to achieve the desired goals of residential welfare for low income families.
참고문헌 (21)
- "Demands for Urban Housing Amenities Journal of Urban Economics" (1981)
- "Estimating the Welfare Implications of In-kind Government Programs" (1989)
- "A Methodology for Evaluating Housing Programs Journal of Regional Science" (1971)
- "Trends and Change in Social Housing Finance and Provision within the European Union", 17(2), pp.325~336 (2002)
- "The Benefits of Subsidized Housing Programs" (1987), Cambridge University Press
- "The Demand for Housing Review of Economic Studies" (1980)
- "Structural Labor Supply Models when Budget Constraints are Nonlinear" (2003)
- "Distributional Effect of Public Housing Programs in Korea", 13(2), pp.353~374 (1999)
- "Low Income Housing Policies in Korea: Evaluations and Suggestions", pp.345~373 (2004)
- "Measures to Facilitate the Supply of Public Housing", pp.197~229 (2005)
- "Rent Assistance and Housing Demand", 66, pp.1~31 (1997)
- "Estimation of the Tenants Benefits Residing in Public Rental Housing with Unit Size Constraint in Korea", 41(8), pp.1521~1536 (2004)
- "Theory and Estimation in the Economics of Housing Demand Journal of Urban Economics" (1981)
- "The Distribution of Tenant Benefits in Public Housing", eco(metrica) (1975)
- "An Econometric Analysis of Rent Control Journal of Political Economy" (1972)
- "The Benefits and Costs of Public Housing in New York City Journal of Public Economics" (1983)
- "A Study on Estimating Benefits of Public Housing Tenants in Korea", 9(3), pp.237~257 (2000)
- "A Review of UK Housing Policy: Ideology and Public Health", 119, pp.525~534 (2000)
- "Handbook of Housing" (2005)
- "A Guide to National Basic Living Program" (2006)
- "Estimating Income Equivalent Benefits of Tenants in Public Housing", 210, pp.1~22 (1997)