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首页> 外文期刊>Journal of housing and the built environment >The crowding-out effect of housing subsidies on parental support: evidence from Japanese mortgage tax credits
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The crowding-out effect of housing subsidies on parental support: evidence from Japanese mortgage tax credits

机译:住房补贴对父母支持的挤出效应:日本抵押贷款税收抵免的证据

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摘要

Children may receive monetary transfers from their parents when they attempt to purchase a home. This raises the question of whether a homeownership-related subsidy provided by government displaces transfers received from parents. The purpose of this paper is to examine this question empirically, using a sample of Japanese home-buying households that are benefiting from a mortgage tax credit (MTC) as a model case. In the empirical analysis, we offer a test of the effect of the MTC on both the extensive and the intensive margins using the overall sample as well as subsample groups. The empirical results, which use the full sample, indicate that the MTC crowds out parental transfers on both the extensive and the intensive margins. In particular, the estimates of the latter suggest an approximately 100 % displacement. Subsample analysis demonstrates that the crowding-out effect is strengthened when children are young, are of low-income group, and are living in the rental sector previously.
机译:儿童在尝试购房时可能会从父母那里获得汇款。这就提出了一个问题,即政府提供的与房屋所有权相关的补贴是否会取代从父母那里获得的转移支付。本文的目的是使用一个受益于抵押税抵免(MTC)的日本购房家庭样本,以实证研究此问题。在实证分析中,我们使用整体样本以及子样本组对MTC对广泛利润率和集约利润率的影响进行了测试。使用全部样本的实证结果表明,MTC在广泛的和集约的利润率上都排斥了父母的转移。尤其是后者的估算值表明大约有100%的位移。子样本分析表明,当儿童年龄较小,属于低收入群体并且以前居住在租赁部门时,挤出效应会增强。

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