Do people respond to tax incentives ? An analysis of the Italian reform of the deductibility of home mortgage interests

@inproceedings{Jappelli2007DoPR,
  title={Do people respond to tax incentives ? An analysis of the Italian reform of the deductibility of home mortgage interests},
  author={Tullio Jappelli and Luigi Pistaferri},
  year={2007}
}
Before 1992 mortgage interests in Italy were fully tax deductible up to 3500 Euro (7000 for two cosigners). In 1992–1994 the government implemented a series of tax reforms whose ultimate effect was to eliminate the relation between the after-tax mortgage rate and the marginal tax rate. Using data from the 1989–2002 Survey of Household Income and Wealth we test if the elimination of incentives has affected the sensitivity of the decision to borrow and the amount borrowed with respect to the… CONTINUE READING

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