The Engel curve of owner-occupied housing consumption



Título del documento: The Engel curve of owner-occupied housing consumption
Revista: Journal of applied economics
Base de datos: CLASE
Número de sistema: 000430455
ISSN: 1667-6726
Autores: 1
Instituciones: 1BI Norwegian Business School, Oslo. Noruega
Año:
Periodo: Nov
Volumen: 17
Número: 2
Paginación: 325-352
País: Argentina
Idioma: Inglés
Tipo de documento: Artículo
Enfoque: Aplicado
Resumen en inglés Housing is a major component of aggregate demand, and understanding how the demand for housing co-varies with income is useful for analysis and policy. While estimating housing consumption for tenants amounts to observing rents, estimating housing consumption for owner-occupiers is challenging because it is not directly observable and interest payments vary with re-paid principals. In order to examine the housing consumption for owneroccupiers, this article combines micro data sets on income and imputed rents for owneroccupiers based on home attributes from a consumer expenditure survey and monthly rents in a rental survey. This allows estimation of an Engel curve of owner-occupied consumption, both parametrically and non-parametrically. Regression results demonstrate that the income share of owner-occupied housing consumption decreases with income, while the Engel elasticity computed at the mean is 0.32 and increasing in income
Disciplinas: Economía
Palabras clave: Condiciones económicas,
Economía de servicios,
Teorías económicas,
Vivienda,
Curva de Engel,
Arrendamiento,
Propietarios
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