Local governments’ indebtedness and its impact on real estate prices (Record no. 13260)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01290nab a2200181 4500 |
| 005 - DATE & TIME | |
| control field | 20221004110504.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 221004b |||||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Micheli, Martin |
| 245 ## - TITLE STATEMENT | |
| Title | Local governments’ indebtedness and its impact on real estate prices |
| Statement of responsibility | Martin Micheli |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | London: |
| Name of publisher, distributor, etc | Sage, |
| Date of publication, distribution, etc | 2020. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Pages | Vol 57, issue 5, 2020: (1032–1048 p.) |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | This paper estimates the causal effect of public debt on real estate prices and rental prices. We identify shocks to debt of self-governed cities in Germany and control for potential benefits such as an increased supply of public goods, which may come together with increased indebtedness. Using spatial variation across self-governed cities, we can quantify the causal effect. We find that shocks to public debt capitalise into property prices, questioning the presence of debt illusion in Germany. Rental prices, on the other hand, do not seem affected by public debt but by the actual tax burden, indicating that renter illusion does not reflect an illusion but rational behaviour. |
| 773 0# - HOST ITEM ENTRY | |
| Host Biblionumber | 8843 |
| Host Itemnumber | 16581 |
| Place, publisher, and date of publication | London Sage Publications Ltd. 1964 |
| Title | Urban studies |
| International Standard Serial Number | 0042-0980 |
| 856 ## - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | https://doi.org/10.1177/0042098018821069 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Koha item type | Articles |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| -- | 53745 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| -- | ddc |
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