The interactions between subsidized and private housing market under competitive search framework.

• Other Authors: Cheung, Ka Shing.
• Format: Others
• Language: English; Chinese
• Published: 2008
• Subjects: Home ownership; Home ownership > China > Hong Kong; House buying; House buying > China > Hong Kong; Housing subsidies; Housing subsidies > China > Hong Kong; Public housing; Public housing > China > Hong Kong
• Online Access: http://library.cuhk.edu.hk/record=b5893651; http://repository.lib.cuhk.edu.hk/en/item/cuhk-326375

Cheung, Ka Shing. === Thesis (M.Phil.)--Chinese University of Hong Kong, 2008. === Includes bibliographical references (leaves 55-57). === Abstracts in English and Chinese. === Abstract --- p.i === Abstract (Chinese Version) --- p.ii === Acknowledgment --- p.iii === Table of Contents --- p.iv === List of Tables --- p.vi === List of Figures --- p.vi === Chapter 1. --- Introduction --- p.1 === Chapter 2. --- HOS and the Comparable Private Housing Market --- p.4 === Chapter 2.1. --- History and Policies in Hong Kong Housing Market --- p.4 === Chapter 2.2. --- The Emerging Subsidized Housing Market --- p.6 === Chapter 2.3. --- The Comparable Private Housing Market --- p.7 === Chapter 2.4. --- "A Tale of the 85,000 Policy" --- p.11 === Chapter 3. --- Literature Review on the Model Choice --- p.12 === Chapter 4. --- The Model --- p.15 === Chapter 4.1. --- The Basic Setting --- p.15 === Chapter 4.2. --- Basic Assumptions of the Model Setup --- p.18 === Chapter 4.3. --- Deal or no deal on a house? --- p.18 === Chapter 5. --- Model in Long Run --- p.19 === Chapter 5.1. --- Assumptions of Model in the Long Run --- p.19 === Chapter 5.2. --- Value Function of Buyers --- p.21 === Chapter 5.3. --- What do the Pricing Functions pH and pL depend on? --- p.24 === Chapter 5.4. --- Sellers' Value Function in Public Market --- p.26 === Chapter 5.5. --- The Key of our Model - Market Tightness of both Markets --- p.27 === Chapter 5.6. --- Population Flow of the Model --- p.29 === Chapter 5.7. --- Procedure of Solving the Model --- p.30 === Chapter 5.8. --- Results of Comparative Static in Long Run --- p.34 === Chapter 5.9. --- Discussion of Long Run Model --- p.34 === Chapter 5.9.1. --- Change of Public Housing Supply --- p.35 === Chapter 5.9.2. --- Change of Population Inflow --- p.36 === Chapter 5.9.3. --- Change of Owners' Value --- p.37 === Chapter 5.9.4. --- Change of Sellers' Value in Private Market --- p.38 === Chapter 5.9.5. --- Change of Search Cost --- p.40 === Chapter 5.9.6. --- Change of Bargaining Power of Sellers --- p.41 === Chapter 6. --- Model in Short Run --- p.43 === Chapter 6.1. --- Assumptions of Model in the Short Run --- p.43 === Chapter 6.2. --- Results of Comparative Static in Short Run --- p.45 === Chapter 6.3. --- Discussions of the Model in Short Run --- p.46 === Chapter 6.3.1. --- Change of Numbers of Sellers --- p.47 === Chapter 6.3.2. --- Change of House Owners' Value --- p.48 === Chapter 6.3.3. --- Change of Search Cost --- p.49 === Chapter 6.3.4. --- Change of Bargaining Power of Sellers --- p.51 === Chapter 7. --- Discussions --- p.52 === Chapter 8. --- Concluding Remarks and Further Extensions --- p.54 === Chapter 9. --- References --- p.55 === Chapter 10. --- Appendix --- p.57 === Chapter 10.1. --- Various Subsidized Housing Scheme in Hong Kong --- p.57 === Chapter 10.1.1. --- The Tenant Purchasing Scheme (TPS) --- p.57 === Chapter 10.1.2. --- The Home Purchase Loan Scheme (HPLS) --- p.58 === Chapter 10.1.3. --- Eligibility of HOS scheme --- p.58 === Chapter 10.2. --- Nash Bargaining Solution --- p.62 === Chapter 10.3. --- The Pricing Function in the Private Housing Market pH --- p.64 === Chapter 10.4. --- The Pricing Function in the Public Market pL --- p.65 === Chapter 10.5. --- The Market Tightness of Private Market θH --- p.65 === Chapter 10.6. --- The Market Tightness of Public Housing Market θL --- p.66 === Chapter 10.7. --- The Comparative Statics in Long Run --- p.69 === Chapter 10.8. --- Comparative Statics in Short Run Equilibrium --- p.74 === Chapter 10.9. --- What the Relationship between pi and θi ? --- p.79 === Chapter 10.10. --- Flow Chart of the Interactions between Markets --- p.84 === Chapter 10.10.1. --- The Long Run Model --- p.84 === Chapter 10.10.2. --- The Short Run Model --- p.92