Zodrow, George R.2009-06-042009-06-042000Diamond, John William. "Housing and non-housing asset values under a consumption tax reform: A general equilibrium analysis." (2000) Diss., Rice University. <a href="https://hdl.handle.net/1911/19486">https://hdl.handle.net/1911/19486</a>.https://hdl.handle.net/1911/19486This study focuses on two potential problems that often arise in the discussions of the feasibility of consumption tax reform: (1) the potential negative effect of a consumption tax reform on the value of owner-occupied housing, and (2) the tendency of such a reform to impose a one-time windfall loss on the owners of existing capital other than owner-occupied housing. The results suggest that the reform-induced one-time windfall tax on the owners of existing assets tends to be overstated in models that do not explicitly account for owner-occupied housing. The study also suggests that the potential decline in the value of owner-occupied housing could be significant, approximately 10 percent of the total value of owner-occupied housing, immediately after reform. However, the value of owner-occupied housing is likely to rebound during the transition, resulting in significant increases in the value of owner-occupied housing in the long run.163 p.application/pdfengCopyright is held by the author, unless otherwise indicated. Permission to reuse, publish, or reproduce the work beyond the bounds of fair use or other exemptions to copyright law must be obtained from the copyright holder.EconomicsHousing and non-housing asset values under a consumption tax reform: A general equilibrium analysisThesisTHESIS ECON. 2000 DIAMOND