Can Retail Vacancy Taxes Reduce Storefront Vacancies?
Speaker(s): Erica Moszkowski
Why are retail vacancies increasing in New York City, and what impacts might a proposed vacancy tax have? In this talk, Erica Moszkowski, a PhD candidate in Business Economics and a Meyer Fellow, will discuss research she conducted with Daniel Stackman, a doctoral student in Economics at NYU Stern. Their analyses focus on the role played by important institutional details of storefront retail, including the prevalence of long-term leases and the high costs of moving a new business into an existing storefront. Their research also examines how a proposed vacancy tax might affect rents, vacancy rates, retail mix, housing markets, and consumer welfare in the city.
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