Data and Code for: How do Households Value the Future? Evidence from Property Taxes

Principal Investigator(s):  View help for Principal Investigator(s) Hans Koster, Vrije Universiteit Amsterdam; Edward Pinchbeck, University of Birmingham

Version:  View help for Version V1

Name File Type Size Last Modified
  code 04/12/2021 05:44:AM
  data 04/12/2021 05:44:AM
  graphs 04/12/2021 05:55:AM
  log 04/12/2021 05:55:AM
  tables 04/12/2021 05:55:AM
  temp 04/12/2021 05:44:AM
README.txt text/plain 59.2 KB 06/16/2021 12:37:AM

Project Citation: 

Koster, Hans, and Pinchbeck, Edward. Data and Code for: How do Households Value the Future? Evidence from Property Taxes. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-01-28. https://doi.org/10.3886/E130601V1

Project Description

Summary:  View help for Summary Despite the near ubiquity of inter-temporal choice, there is little consensus on the rate at which individuals trade present and future costs and benefits. We contribute to this debate by estimating discount rates from extensive data on housing transactions and spatio-temporal variation in property taxes in England. Our findings imply long-term average net of growth nominal discount rates that are between 3 and 4%. The close correspondence to prevailing market interest rates gives little reason to suggest that households misoptimise by materially undervaluing very long term financial flows in this high stakes context. 
Funding Sources:  View help for Funding Sources Centre for Economic Performance (ES/M010341/1); HSE University Basic Research Program

Scope of Project

Subject Terms:  View help for Subject Terms housing; property taxes; discount rate; undervaluation
JEL Classification:  View help for JEL Classification
      G10 General Financial Markets: General (includes Measurement and Data)
      R30 Real Estate Markets, Spatial Production Analysis, and Firm Location: General
Geographic Coverage:  View help for Geographic Coverage England
Time Period(s):  View help for Time Period(s) 1995 – 2017
Collection Date(s):  View help for Collection Date(s) 2016 – 2020
Universe:  View help for Universe Home buyers and renters in England
Data Type(s):  View help for Data Type(s) administrative records data; census/enumeration data; geographic information system (GIS) data; survey data

Methodology

Data Source:  View help for Data Source Many sources: see README
Unit(s) of Observation:  View help for Unit(s) of Observation homes
Geographic Unit:  View help for Geographic Unit various

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Published Versions

V1 [2022-01-28]

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