【摘要】Capitalization of ?scal packages is often considered as a pure demand side phenom-enon. House price premiums in ?scally attractive communities may lead to housing supplyreactions and capitalization may disappear in the long-run. However, if price differentialsinduced by ?scal variables do not lead to supply reactions, capitalization persists over time.Using an empirical linear interaction model, we analyse changes in capitalization of ?scalvariables over time. Results indicate that capitalization of ?scal variables persists and capital-ization rates do not change over time.

【关键词】Capitalization;fiscal variables;house price hedonic

【文献来源】David Stadelmann;Steve Billon .Papers in Regional Studies.2015（2）