The Economics of Housing Vouchers - 1st Edition - ISBN: 9780122683602, 9781483260433

The Economics of Housing Vouchers

1st Edition

Authors: Joseph Friedman Daniel H. Weinberg
eBook ISBN: 9781483260433
Imprint: Academic Press
Published Date: 28th January 1982
Page Count: 236
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Description

The Economics of Housing Vouchers is a seven-chapter text that examines the housing choices of low-income families in two metropolitan areas, namely, Phoenix and Pittsburgh. Some of these households are offered a novel kind of housing subsidy, including a housing allowance or housing voucher, in an experimental framework designed to test this approach to demand-side housing assistance.

Chapter 1 presents an overview of U.S. housing programs and the dimensions of the U.S. housing problem. Chapter 2 provides a simple microeconomic model that conceptualizes household behavior, as well as a summary of some of the extant evidence on housing demand. This chapter also estimates the housing demand models for the low-income population in the Demand Experiment, using housing expenditures to measure housing. Chapter 3 applies a hedonic index of housing services that abstracts from particular characteristics of the household or landlord that may affect rent and attempts to measure housing in a more objective manner. Chapter 4 describes a model of household behavior that leads to the methodology for estimating experimental effects. Chapter 5 repeats the analysis for Minimum Rent households, while Chapter 6 examines the effect of both kinds of Housing Gap allowance payment on the consumption of housing services. Lastly, Chapter 7 focuses on the implications of the experimental findings for housing policy. This chapter compares a housing allowance strategy with two other approaches, namely, a pure income-transfer approach and a construction-oriented approach.

This book is of value to workers in housing policy, including economists, regional and other social scientists in academia, housing analysts, the Congress, housing lobby groups, and state and local government housing officials.

Table of Contents


Preface

Acknowledgments

Chapter 1 Introduction

The Evolution of Housing Programs

The U.S. Housing Problem

The Housing Allowance Demand Experiment

Chapter 2 The Demand for Rental Housing

A Microeconomic Model of Housing Demand

Evidence from Recent Empirical Estimates of Housing Demand

Expenditure Changes for Percent of Rent Households

Econometric Estimates of Demand Parameters

The Effect of Demographic Variables

Dynamic Models of Housing Demand

Conclusion

Chapter 3 The Demand for Housing Services

An Explanation of Hedonic Indices

Hedonic Indices for the Demand Experiment Sites

Demand Functions for Housing Services

Analysis of The Hedonic Residual

Demographic Stratification

Conclusion

Chapter 4 The Effect of Minimum Standards Housing Allowances on Housing Consumption

Meeting a Physical Housing Requirement

A Model of Household Behavior

Actual Changes in Housing Consumption

Econometric Estimation

Conclusion

Chapter 5 The Effect of Minimum Rent Housing Allowances on Housing Consumption

Overview of Housing Changes

Rent Changes Induced by the Minimum Rent Plans

Results for Movers

Conclusion

Chapter 6 The Effect of Housing Gap Allowances on the Consumption of Housing Services

Allowance Effects on Overpayment

Allowance Effects on the Consumption of Housing Services

Conclusion

Chapter 7 Policy Implications

Cash Transfers Versus Housing Assistance

Other Housing Outcomes

Existing Housing Programs

Summary

Appendix I Design of the Demand Experiment

Data Collection

Allowance Plans Used in the Demand Experiment

Key Variables

Appendix II Selection Bias in Price Elasticity Estimates

Appendix III The Methodology for Estimating the Experimental Effects on Housing Gap Households

Predicting Normal Housing Consumption

Specification of Selection Bias

Appendix IV Additional Tables

Appendix V Intraurban Residential Mobility: The Role of Transactions Costs, Market Imperfections, and Household Disequilibrium

A Microeconomic Model of Search and Mobility

Benefit and Cost Measurement

Estimation of a Benefit-Cost Model of Search and Mobility

Conclusion

References

Index

Details

No. of pages:
236
Language:
English
Copyright:
© Academic Press 1982
Published:
Imprint:
Academic Press
eBook ISBN:
9781483260433

About the Author

Joseph Friedman

Affiliations and Expertise

Professor of Clinical Neurosciences, Brown University School of Medicine, Providence, RI; Adjunct Professor of Neurology, University of Rhode Island, School of Pharmacy, Providence, RI; Chief of Neurology, Memorial Hospital of Rhode Island, Pawtucket, RI

Daniel H. Weinberg