Equity and efficiency aspects of rent control: an empirical study of New York City

Article Abstract:

The effects of rent controls in New York City in 1968 are examined using the New York City Housing and Vacancy Survey. Specifically, the research: identifies the socioeconomic groups that received the most rent control benefits; examines the distributional consequences of rent controls; and explores the effects of rent controls on homeownership propensities and residential mobility. Results indicate that: none of the differences in benefits could be explained along socioeconomic lines; blacks and Puerto Ricans received less benefits than whites; and increased expectation of rent control benefits led to a reduction in homeownership propensity. Results also show that rent controls have not done much to improve the distribution of resources, and have, instead, exerted great efficiency effects.

Economic policy, New York, New York

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Rent controls and rental housing quality: a note on the effects of New York City's old controls

Article Abstract:

The evidence of how rent controls have an influence on rental housing quality was investigated by using a logit specification to analyze the 1968 Housing and Vacancy Survey for New York City. The year 1968 was selected for analysis because rent controls were in place for over two decades at that time, and after 1968, New York switched to rent stabilization methods. Research results indicate that after controlling for housing quality, borough location, and building age, rent control had a large negative impact on rental structure quality, especially in smaller buildings. There was nearly a nine percent chance that a smaller, older building would be in unsound condition if units were rent controlled compared to units not under rent control limitations.

Rental housing

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Measurement problems in quantifying the distributional effects of subsidy programs

Article Abstract:

Equivalent variation benefits measures or estimated compensating used to examine the distributional effects of government subsidy programs may lead to biased results. Using average elasticity parameters to compute equivalent variations or individual compensating can result in measurement errors related to program targeting and lead to biased distributional effects being identified from the examination of cross-sectional estimated program benefits. More effort and care are needed in determining the health of estimates of the cross-sectional variation in the benefits of subsidy programs.

Domestic economic assistance, Subsidies

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