Residential Mobility and the Housing Market in a Two‐sector Neoclassical Growth Model
用一个连续时间的两部门一般均衡世代交叠模型，研究居住流动性和竞争性住房市场对长期增长的影响，并比较自由市场和租金管制下的稳态结果。
The impact of residential mobility and competitive housing markets on long run growth is examined using a two‐sector general equilibrium overlapping‐generations model in continuous time. There is an infinity of agents with finite lives who adjust their housing consumption by moving, which is costly. We explore the model's steady‐state properties, first with a free housing market, then under rent control when the market clears through restrictions on the frequency of moves. Rent controls do not just reduce welfare; they may increase the steady‐state capital‐labor ratio.