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作者

来源

JOURNAL OF URBAN ECONOMICS,Vol.101,P.57-73

语言

英文

关键字

Transfer taxes; Stamp duty; Transaction costs; Homeownership; Household mobility; TRANSACTION TAXES; HOME-OWNERSHIP; DECISIONS; SEARCH; IMPACT; COSTS; MODEL

作者单位

[Hilber, Christian A. L.] London Sch Econ, London, England. [Lyytikaeinen, Teemu] VATT Inst Econ Res, Helsinki, Finland. [Hilber, Christian A. L.] SERC, Edinburgh, Midlothian, Scotland. [Hilber, Christian A. L.] CEP, London, England. Hilber, CAL (reprint author), London Sch Econ, London, England.; Hilber, CAL (reprint author), SERC, Edinburgh, Midlothian, Scotland.; Hilber, CAL (reprint author), CEP, London, England. E-Mail: c.hilber@lse.ac.uk

摘要

We estimate the effect of the UK Stamp Duty Land Tax (SDLT) - a transfer tax on the purchase price of property or land - on different types of household mobility using micro data. Exploiting a discontinuity in the tax schedule, we isolate the impact of the tax from other determinants of mobility. We compare homeowners with self-assessed house values on either sides of a cut-off value where the tax rate jumps from 1 to 3 percent. We find that a higher SDLT has a strong negative impact on housing-related and short distance moves but does not adversely affect job-induced or long distance mobility. Overall, our results suggest that transfer taxes may mainly distort housing rather than labor markets. (C) 2017 Elsevier Inc. All rights reserved.