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Recently, there exist a paradox of increasing in housing
priceand vacancy rate in Taiwan housing markets. This situation
makespeople hard to afford their own housing. To improve this
situation, the vacancy tax is one of the recommended way. In
this study, webuild a empirical model to simulate the effect of
vacancy tax. Wefirstly study the machinism of vacant land tax
and house tax, andsuggests a feasible machinism of vacancy-tax.
Secondarily, weconstruct a market equilibrium model with vacancy
tax. Since therecould exist a time lag in housing supply, we
also tried to joinhousing supply function with cobweb theory,
and calibrated themodel from a time series data. The empirical
data are selectedfrom the housing sales records of Taiwan and
Taichung city. Theresult shows that Taiwan''s housing supply
function does not havecobweb phenomenon, and vacancy-tax can
efficiently lower the housingprice and the vacancy rate.
Besides, the rate of house using andsocial welfare is also
improved.
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