Housing Policies for Asia: A Theoretical Analysis by Use of a Demand and Supply Model

53 Pages Posted: 18 Jun 2015

See all articles by Naoyuki Yoshino

Naoyuki Yoshino

Asian Development Bank Institute

Matthias Helble

Asian Development Bank; ADBI; ADBI

Toshiaki Aizawa

Asian Development Bank Institute

Date Written: June 17, 2015

Abstract

The main objective of this paper is to give an overview of the most commonly used housing policies and to illustrate their economic impact. To facilitate the analysis, we first introduce a simple two-period housing demand model for owner-occupied houses and rental houses. We then add a standard stock-flow housing supply model. Using this modelling framework, we explain the qualitative effects of various housing policies on supply and demand. In the last section of the paper, we provide a quantitative estimation of the impact of each policy and assess its effectiveness using a simple analysis of cost effectiveness. We hope that the model’s versatility makes it a simple tool for policymakers to better understand the economic consequences of various housing policies.

Keywords: housing policies, demand and supply model, stock-flow housing model

JEL Classification: R21, R28, R31, R38

Suggested Citation

Yoshino, Naoyuki and Helble, Matthias and Aizawa, Toshiaki, Housing Policies for Asia: A Theoretical Analysis by Use of a Demand and Supply Model (June 17, 2015). ADBI Working Paper 526, Available at SSRN: https://ssrn.com/abstract=2619614 or http://dx.doi.org/10.2139/ssrn.2619614

Naoyuki Yoshino (Contact Author)

Asian Development Bank Institute ( email )

Kasumigaseki Building 8F
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

Matthias Helble

Asian Development Bank ( email )

Philippines
006326831120 (Phone)

ADBI ( email )

Kasumigaseki Building 8F
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

ADBI ( email )

Kasumigaseki Building 8F
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

Toshiaki Aizawa

Asian Development Bank Institute ( email )

Kasumigaseki Building 8F
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

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