Analyse economique du marche du logement locatif

Translated title of the contribution: An ecoNoMic aNALYsis of the rental housiNG market

Etienne Wasmer

    Research output: Contribution to journalReview article

    Abstract

    Housing is fully an economic good. Demand and supply factors play first order roles on prices and quantity exchanged. It is also a heavily regulated market. The law, in particular in France, is complex, its execution described by the « Code de procedure civile » is even more complex. In this text, we focus on the rental housing market and attempt to rationalize the existence of such regulations by various market imperfections. In a first part, we describe the lenght of litigation procedures between landlords and tenants. In a second part, we study the consequences of such delays under adverse selection: landlords attempt to screen tenants according to their (exogenous) propensity to sustain the rent. In a third part, we consider moral hazard issues, whereby tenants undertake actions affecting their likelihood of defecting on the rent. We conclude on the need for economists to consider asymmetries of information in urban economics and for law scholars willing to defend the Civil Code of French origine, to investigate where economic inefficiencies lie in.

    Original languageFrench
    Pages (from-to)1247-1264
    Number of pages18
    JournalRevue Economique
    Volume58
    Issue number6
    StatePublished - Dec 1 2007

    Fingerprint

    Economics
    Housing market
    Rental housing
    Economic analysis
    Rent
    Demand and supply
    France
    Urban economics
    Market imperfections
    Inefficiency
    Asymmetry of information
    Factors
    Economists
    Adverse selection
    Litigation
    Propensity
    Moral hazard

    ASJC Scopus subject areas

    • Economics, Econometrics and Finance(all)

    Cite this

    Analyse economique du marche du logement locatif. / Wasmer, Etienne.

    In: Revue Economique, Vol. 58, No. 6, 01.12.2007, p. 1247-1264.

    Research output: Contribution to journalReview article

    Wasmer, E 2007, 'Analyse economique du marche du logement locatif', Revue Economique, vol. 58, no. 6, pp. 1247-1264.
    Wasmer, Etienne. / Analyse economique du marche du logement locatif. In: Revue Economique. 2007 ; Vol. 58, No. 6. pp. 1247-1264.
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