The paper emphasizes initially the effects of moving transaction costs on the potential effect of government rent subsidy programs. As a concomitant to this analysis, the paper reaffirms the low income elasticities of housing expenditure among low-income renters found by others. Moving...

In recent years a decline in the labor force participation of older workers has combined with rapid current and projected increases in the number of older Americans, producing major policy debates over looming "crises" in social security and, to a lesser extent, in the private pension system....