|
|
|
|
Title: |
Progressive Tax-Based Tenure Choice: A Study
of Korean Housing Rentals |
| Author: |
Kim, Sangphill;
Chai, John J. |
| Author
Affiliation: |
Syracuse U |
| Source: |
International Economic Journal, Summer 1987, v. 1, no. 2, pp. 61-69 |
|
Publication Date: |
Summer 1987 |
|
Abstract: |
In Korea, there exists a unique form of
housing rental called the "Chun-Sae" (C.S.). The purpose of this paper
is to provide a theoretical model for tax-based tenure choice between
ownership and rental, to develop a model to evaluate the C.S. price, and
to seek an explanation for the currently observed anomaly (i.e., a wide
disparity between the present value of C.S. and the market price of a
house). The model is also found to be useful in evaluating the
effectiveness of capital gain tax on a second house. |
|
