Abstract
Housing Grants: Effectiveness and Redistribution by Pascal Hornung The 1977 reform of the housing aid system gave personal housing grants precedence. This paper lays out the reasons for maintaining housing grants since this date and focuses in particular on their role as an instrument for correcting property inequalities. To this end, we compare the effectiveness of a subsidized loan, which is the most common form of housing grant, with that of proportional property taxation. The analysis uses an optimum taxation model, which clearly shows the efficiency-equity trade-offs that public authorities need to find in their new policies.
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