We develop a simple spatial equilibrium model with the peer group effect and local public finance to analyze the implications of housing policies such as public housing and housing voucher programs, and education policies such as school finance consolidation. The calibrated model can match...

We develop a simple spatial equilibrium model with the peer group effect and local public finance to analyze the implications of housing policies such as public housing and housing voucher programs, and education policies such as school finance consolidation. The calibrated model can match...

We develop a general equilibrium model of residential choice and study the effects of two housing aid policies, public housing units and housing vouchers. Land is differentiated by both residential accessibility and local public goods, and the provision levels of local public goods are...

We develop a general equilibrium model of residential choice and study the effects of two housing aid policies, public housing units and housing vouchers. Land is differentiated by both residential accessibility and local public goods, and the provision levels of local public goods are...

A perennial debate worldwide over housing aid policy focuses on whether the government should provide housing vouchers or subsidized public housing units. To complement the empirically- dominated literature, this paper builds a general equilibrium model that merges urban land use (monocentric...