The effects of rent control in Latin America: A century of regulations in Argentina

Following World War I, rent control became a standard policy response to the housing shortage and the resulting rent increases. Typically, economists blame it for creating inefficiencies in the housing market and beyond. We investigate whether rental market regulations (including rent control, prote...

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Detalhes bibliográficos
Autores: Jacobo, Alejandro D., Kholodilin, Konstantin A.
Formato: informe técnico
Fecha de publicación:2020
País:España
Recursos:Universidad Complutense de Madrid (UCM)
Repositorio:Docta Complutense
Idioma:inglés
OAI Identifier:oai:docta.ucm.es:20.500.14352/11811
Acesso em linha:https://hdl.handle.net/20.500.14352/11811
Access Level:acceso abierto
Palavra-chave:C21
E31
R38
Argentina
Housing rents
Rent control
Rental market regulations.
Econometría (Economía)
Macroeconomía
5302 Econometría
5307.14 Teoría Macroeconómica
id ES_9f3482a3e6f25f293c0b2a8a97a0fbbf
oai_identifier_str oai:docta.ucm.es:20.500.14352/11811
network_acronym_str ES
network_name_str España
repository_id_str
spelling The effects of rent control in Latin America: A century of regulations in ArgentinaJacobo, Alejandro D.Kholodilin, Konstantin A.C21E31R38ArgentinaHousing rentsRent controlRental market regulations.Econometría (Economía)Macroeconomía5302 Econometría5307.14 Teoría MacroeconómicaFollowing World War I, rent control became a standard policy response to the housing shortage and the resulting rent increases. Typically, economists blame it for creating inefficiencies in the housing market and beyond. We investigate whether rental market regulations (including rent control, protection of tenants from eviction, and housing rationing) had any effects in a middle-income Latin American economy, such as Argentina. To answer this question, we take advantage of a wide range of housing market indicators and restrictive rental regulation indices covering almost one century. Using a standard OLS model and MARS, a non-linear estimation technique, we find that rental market regulations have exerted a statistically significant negative impact on the growth rates of the real housing rents. However, they were only effective for short periods following both World Wars, when regulations were novel and particularly strong.Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)Universidad Complutense de Madrid20202020-01-0120202020-01-01technical reporthttp://purl.org/coar/resource_type/c_18ghinfo:eu-repo/semantics/reportapplication/pdfhttps://hdl.handle.net/20.500.14352/11811reponame:Docta Complutenseinstname:Universidad Complutense de Madrid (UCM)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccessoai:docta.ucm.es:20.500.14352/118112026-06-02T12:44:21Z
dc.title.none.fl_str_mv The effects of rent control in Latin America: A century of regulations in Argentina
title The effects of rent control in Latin America: A century of regulations in Argentina
spellingShingle The effects of rent control in Latin America: A century of regulations in Argentina
Jacobo, Alejandro D.
C21
E31
R38
Argentina
Housing rents
Rent control
Rental market regulations.
Econometría (Economía)
Macroeconomía
5302 Econometría
5307.14 Teoría Macroeconómica
title_short The effects of rent control in Latin America: A century of regulations in Argentina
title_full The effects of rent control in Latin America: A century of regulations in Argentina
title_fullStr The effects of rent control in Latin America: A century of regulations in Argentina
title_full_unstemmed The effects of rent control in Latin America: A century of regulations in Argentina
title_sort The effects of rent control in Latin America: A century of regulations in Argentina
dc.creator.none.fl_str_mv Jacobo, Alejandro D.
Kholodilin, Konstantin A.
author Jacobo, Alejandro D.
author_facet Jacobo, Alejandro D.
Kholodilin, Konstantin A.
author_role author
author2 Kholodilin, Konstantin A.
author2_role author
dc.contributor.none.fl_str_mv Universidad Complutense de Madrid
dc.subject.none.fl_str_mv C21
E31
R38
Argentina
Housing rents
Rent control
Rental market regulations.
Econometría (Economía)
Macroeconomía
5302 Econometría
5307.14 Teoría Macroeconómica
topic C21
E31
R38
Argentina
Housing rents
Rent control
Rental market regulations.
Econometría (Economía)
Macroeconomía
5302 Econometría
5307.14 Teoría Macroeconómica
description Following World War I, rent control became a standard policy response to the housing shortage and the resulting rent increases. Typically, economists blame it for creating inefficiencies in the housing market and beyond. We investigate whether rental market regulations (including rent control, protection of tenants from eviction, and housing rationing) had any effects in a middle-income Latin American economy, such as Argentina. To answer this question, we take advantage of a wide range of housing market indicators and restrictive rental regulation indices covering almost one century. Using a standard OLS model and MARS, a non-linear estimation technique, we find that rental market regulations have exerted a statistically significant negative impact on the growth rates of the real housing rents. However, they were only effective for short periods following both World Wars, when regulations were novel and particularly strong.
publishDate 2020
dc.date.none.fl_str_mv 2020
2020-01-01
2020
2020-01-01
dc.type.none.fl_str_mv technical report
http://purl.org/coar/resource_type/c_18gh
dc.type.openaire.fl_str_mv info:eu-repo/semantics/report
format report
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.14352/11811
url https://hdl.handle.net/20.500.14352/11811
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
publisher.none.fl_str_mv Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
dc.source.none.fl_str_mv reponame:Docta Complutense
instname:Universidad Complutense de Madrid (UCM)
instname_str Universidad Complutense de Madrid (UCM)
reponame_str Docta Complutense
collection Docta Complutense
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,81155

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