Rent control and tenancy duration |
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Authors: | Jakob Roland Munch Michael Svarer |
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Institution: | a Danish Economic Council, Adelgade 13, DK-1304, Copenhagen, Denmark;b University of Aarhus, Department of Economics, Building 320, DK-8000, Aarhus C, Denmark |
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Abstract: | This paper investigates how rent control affects mobility in the Danish housing market. We apply a proportional hazard duration model, that encompasses both the presence of left truncated tenancy durations, right censored observations and allows for a very flexible specification of the time dependency of the hazard rate. Tenancy mobility is severely reduced by rent control. For a typical household in the private rental sector tenancy duration is found to be more than six years longer if the apartment belongs to the 10% most regulated units than if it belongs to the 10% least regulated units. |
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Keywords: | Rent control Mobility Duration model |
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