The Mortgage Interest Deduction and its Impact on Homeownership Decisions
利用1984至2007年美国数据，研究州和联邦抵押贷款利息扣除对购房的影响，发现该补贴仅提高高收入家庭在宽松住房市场的购房率，在严格管制地区反而有负面效果，政策无效。
This paper examines the impact of the combined U.S. state and federal mortgage interest deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting variation in the subsidy arising from changes in the MID within and across states over time. We test whether capitalization of the MID into house prices offsets the positive effect on homeownership. We find that the MID boosts homeownership attainment only of higher-income households in less tightly regulated housing markets. In more restrictive places, an adverse effect exists. The MID is an ineffective policy to promote homeownership and improve social welfare.