PENSIONS, INCOME TAXES, AND HOMEOWNERSHIP: A CROSS?COUNTRY ANALYSIS

• 成果类型: Article
• 署名作者: Fehr, Hans; Hofmann, Maurice; Kudrna, George
• 署名单位: University of Wurzburg; Deutsche Bundesbank; University of New South Wales Sydney
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12723
• 发表日期: 2025
• 页码: 143-174
• 关键词: policy

摘要

The article studies the role of pensions and income taxes in determining homeownership. We develop a stochastic, overlapping generations model with tenure choice and heterogenous skill types calibrated to Germany. Then, we simulate alternative income tax and pension policy structures from the United States and Australia, since these developed nations have similar incomes per capita, but highly different homeownership rates. Our results highlight that the pension system and its financing have decisive long-term effects on homeownership. The latter is even more significant than income tax, where labor and capital income taxation affect homeownership in opposite directions.