Housing, consumption and asset pricing
... fluctuations in the relative share of housing in their consumption basket. Since the housing share moves slowly, a concern with ... Moreover, the model predicts that the housing share can be used to forecast excess returns on stocks. We document that this ... This paper considers a consumption-based asset pricing model where housing is explicitly modeled both as an asset and as a ... "A Model of Housing in the Presence of Adjustment Costs: A Structural Interpretation of Habit Persistence," NBER Working Papers ...
Hedonic Analysis of Housing Markets
These techniques have been widely applied in studies of the demand for housing attributes and environmental amenities. The ... This chapter examines the hedonic analysis of housing markets. ... "Hedonic analysis of housing markets," Handbook of Regional and ... Housing; hedonic models; urban economics; All these keywords. JEL classification:. *R - Urban, Rural, Regional, Real Estate, ... "Hedonic Analysis of Housing Markets," Urban/Regional 9805001, University Library of Munich, Germany. ...
Business Strategies, Real Economy Publishing House | IDEAS/RePEc
y:2020:id:637 Public-Private Partnership In Housing And Utilities Sector As A Tool For Development Of The Russian Federation ... y:2022:id:848 Futuristic Style Of Building Houses And Its Application In The City Of Russia. by L. A. Iritsyan ...
Money Illusion and Housing Frenzies
For example, investors who decide whether to rent or buy a house by simply comparing monthly rent and mortgage payments do not ... Housing, Real Estate, Inflation, Inflation Illusion, Mortgages, Behavioral FinanceJEL classification: G12, R2. ... A reduction in inflation can fuel run-ups in housing prices if people suffer from money illusion. ... "House prices and rents in Spain: Does the discount factor matter?," Journal of Housing Economics, Elsevier, vol. 16(3-4), pages ...
The Great Mortgaging: Housing Finance, Crises, and Business Cycles
Housing finance has come to play a central role in the modern macroeconomy. ... "Projecting post-crisis house and equity prices since the 1870s:not all crises are alike," MPRA Paper 103164, University Library ... "How did house and stock prices respond to different crisis episodes since the 1870s?," Economic Modelling, Elsevier, vol. 114(C ... "The Great Mortgaging: Housing Finance, Crises, and Business Cycles," CEPR Discussion Papers 10161, C.E.P.R. Discussion Papers. ...
The Gradients of Power: Evidence from the Chinese Housing Market
We find that the housing price paid by bureaucrat buyers is on average 1.05 percentage points lower than non-bureaucrat buyers ... after controlling for a full set of characteristics of buyers, houses and mortgage loans. More interestingly, we find that the ... we propose to measure corruption using the price differences paid by bureaucrat buyers and non-bureaucrat buyers in the housing ... "The gradients of power: Evidence from the Chinese housing market," Journal of Public Economics, Elsevier, vol. 176(C), pages 32 ...
The Rent-Price Ratio for the Aggregate Stock of Owner-Occupied Housing
... occupied stock of housing, starting in 1960:1, by merging micro data from the last five Decennial Censuses of Housing with ... "Testing the Present Value Relation for Housing Prices: Should I Leave My House in San Francisco?," Journal of Urban Economics, ... "House Price Moments in Boom-Bust Cycles," NBER Chapters, in: Housing and the Financial Crisis, pages 19-68, National Bureau of ... "Housing, home production, and the equity- and value-premium puzzles," Journal of Housing Economics, Elsevier, vol. 18(2), pages ...
The Effect of Rent Control on Housing Quality Change: A Longitudinal Analysis
This study examines the effect of rent control on the quality of rental housing in New York City. Quality change is linked to ... The results offer some support for the belief that rent control leads to a deterioration in housing quality but suggest the ... the suppression of rent below market levels and other characteristics of the housing unit. The authors develop a first-order ... It is widely believed that rent control leads to a decline in the quality of rental housing. ...
New Road Infrastructure: the Effects on Firms
Housing; Infrastructure ...
Trends in regional inequality in China
Housing; Infrastructure ...
The Economics of Density: Evidence from the Berlin Wall
"A New Approach to Estimating the Production Function for Housing," American Economic Review, American Economic Association, vol ... "Housing Externalities," Journal of Political Economy, University of Chicago Press, vol. 118(3), pages 485-535, June. * Esteban ... "Housing Externalities," NBER Working Papers 14369, National Bureau of Economic Research, Inc. ...
Internal migration and growth in Italy
Housing; Infrastructure ...
Climatic change and rural-urban migration: The case of sub-Saharan Africa
Housing; Infrastructure ...
Spatial Inequality In Education And Health Care In China
Housing; Infrastructure ...
Rising sea levels and sinking property values: Hurricane Sandy and New York's housing market
Our estimates provide robust evidence of a persistent negative impact on flood zone housing values. We show the gradual ... This paper analyzes the effects of hurricane Sandy on the New York City housing market using a large parcel-level dataset that ... contains all housing sales for 2003-2017. The dataset also contains geo-coded FEMA data on which building structures were ... "Do choice schools break the link between public schools and property values? Evidence from house prices in New York City," ...
Housing, consumption and monetary policy: how different are the US and the euro area?
First, it establishes some stylised facts concerning key variables in the housing market, such as the real house price, ... housing demand shocks on the housing market and the broader economy. We find that similarities overshadow differences as far as ... We find evidence pointing in the direction of a stronger role for housing in the transmission of monetary policy shocks in the ... The paper provides a systematic empirical analysis of the role of the housing market in the macroeconomy in the US and in the ...
Tracking Owners' Sentiments: Subjective Home Values, Expectations and House Price Dynamics
Since we use subjective data on house prices, we first show that OEVs are indeed a valid source to study house price dynamics ... We hence conclude that the wisdom of the home-owner crowd is sufficient to study house price dynamics but OEVs are less ... We test this relationship for the supply side of the secondary housing market using micro data that links individual ... Economic theory predicts that expectations on future house price growth are related to the current price of a house. ...
Boriss Siliverstovs | IDEAS/RePEc
"What Drives Housing Prices Down?: Evidence from an International Panel," Discussion Papers of DIW Berlin 758, DIW Berlin, ... "What Drives Housing Prices Down?: Evidence from an International Panel," Discussion Papers of DIW Berlin 758, DIW Berlin, ... "Think national, forecast local: A case study of 71 German urban housing markets," KOF Working papers 15-372, KOF Swiss Economic ... "Business Confidence and Forecasting of Housing Prices and Rents in Large German Cities," Discussion Papers of DIW Berlin 1360, ...
Understanding the Solar Home price premium: Electricity generation and "Green" social status
"Depreciation of housing capital, maintenance, and house price inflation: Estimates from a repeat sales model," Journal of Urban ... "House price depreciation rates and level of maintenance," Journal of Housing Economics, Elsevier, vol. 17(1), pages 88-101, ... "House price premium associated with residential solar photovoltaics and the effect from feed-in tariffs: A case study of ... "Green Luxury Goods? The Economics of Eco-Labels in the Japanese Housing Market," HIT-REFINED Working Paper Series 7, Institute ...
Secular trends in Wealth and Heterogeneous Capital: Land is back...and should be taxed
The distortion depends on the share of housing structures and how they react to the tax on rents. However, a tax on rents ... In four out of five major countries analyzed, the positive trend in capital-income ratio arises from housing and specifically ... When the range of property taxes is politically constrained, taxing the product of housing rents is not optimal, even with ... We introduce land and housing structures in Judds optimal taxation framework. We show that an optimal taxation implies a ...
Background UNcertainty and the Demand for Insurance Against Insurable Risks
"Stockholding: Does housing wealth matter?," Working papers 266, Banque de France. * Guiso, Luigi & Pagel, Michaela, 2004. "The ... "Risk management, housing and stockholding," Post-Print halshs-01203114, HAL. * Luc Arrondel & Frédéric Savignac, 2015. "Risk ... "Risk management, housing and stockholding," Applied Economics, Taylor & Francis Journals, vol. 47(39), pages 4208-4227, August ... "Risk management, housing and stockholding," PSE-Ecole déconomie de Paris (Postprint) halshs-01203114, HAL. ...
NEP-FMK: New economic research on Financial Markets disseminated on 2006-08-05 | IDEAS/RePEc
"Is Housing Wealth An ATM? the Relationship Between Household Wealth, Home Equity withdrawal, and Saving Rates," IMF Working ...
Palgrave Studies in the History of Economic Thought, Palgrave Macmillan | IDEAS/RePEc
53-57 The Housing Market. In: Bo Södersten from Left to Right. by Mats Lundahl * 57-76 Precolonial Underdevelopment. In: Joan ...
A Model of Mortgage Default
Mortgage default is triggered by negative home equity, which results from declining house prices in a low inflation environment ... "Foreclosures and house price dynamics: a quantitative analysis of the mortgage crisis and the foreclosure prevention policy," ... "What moves housing markets: A variance decomposition of the rent-price ratio," Journal of Urban Economics, Elsevier, vol. 66(2 ... "Owner-Occupied Housing as a Hedge Against Rent Risk," NBER Working Papers 9462, National Bureau of Economic Research, Inc. * ...
NEP-URE: New economic research on Urban & Real Estate Economics disseminated on 2019-01-14 | IDEAS/RePEc
"Welcoming Remarks: a speech at the Housing Assistance Councils 2018 Rural Housing Conference, Washington, D.C," Speech 1028, ... "The Effect of Credit Constraints on Housing Choices: The Case of LTV limit," Bank of Israel Working Papers 2017.03, Bank of ... "How Effective is Energy-efficient Housing?: Evidence From a Field Experiment in Mexico," IDB Publications (Working Papers) 8767 ... "Measuring the Services of Durables and Owner Occupied Housing," Microeconomics.ca working papers erwin_diewert-2019-1, ...
Really Uncertain Business Cycles
Christopher L. House, 2008. "Fixed Costs and Long-Lived Investments," NBER Working Papers 14402, National Bureau of Economic ... House, Christopher L., 2014. "Fixed costs and long-lived investments," Journal of Monetary Economics, Elsevier, vol. 68(C), ... Christopher House, 2008. "Fixed Costs and Long-Lived Investments," 2008 Meeting Papers 3, Society for Economic Dynamics. * ...
Energy Production and Health Externalities: Evidence from Oil Refinery Strikes in France
"Environmental risk and differentiated housing values: Evidence from the north of France," Journal of Housing Economics, ... "Do Housing Prices Reflect Environmental Health Risks? Evidence from More than 1600 Toxic Plant Openings and Closings," NBER ... "Do Housing Prices Reflect Environmental Health Risks? Evidence From More Than 1600 Toxic Plant Openings And Closings," Working ... "Environmental risk and differentiated housing values," Post-Print hal-02048712, HAL. * Li, Hao & Guo, Huanxiu & Huang, Naqun & ...
Ozan Bakis | IDEAS/RePEc
"Is a refugee crisis a housing crisis? Only if housing supply is unresponsive," Journal of Development Economics, Elsevier, vol ... "Parking not included: The effect of paid residential parking on housing prices and its relationship with public transport ... "Buying citizenship: A boon to district-level house prices in Istanbul," Working Papers hal-03365115, HAL. * Gunduz, Lokman & ... "Buying citizenship: A boon to district-level house prices in Istanbul," MPRA Paper 110028, University Library of Munich, ...
Mortgage Defaults
The model accounts for observed patterns of housing consumption, mortgage borrowing, and defaults. We use the model as a ... The combination of recourse mortgages and LTV limits reduces the default rate while boosting housing demand. Recourse mortgages ... also necessary to prevent large increases in the mortgage default rate after large declines in the aggregate price of housing ... We present a model in which households facing income and housing-price shocks use long-term mortgages to purchase houses. ...
Working Papers, Florida International University, Department of Economics | IDEAS/RePEc
1103 VAR Estimates of the Housing and Stock Wealth Effects: Cross-country Evidence. by Sheng Guo & Umut Unal * 1102 Necessity ... 2105 House Prices, Collateral Effects and Sectoral Output Dynamics in Emerging Market Economies. by Berrak Bahadir & Inci Gumus ... 1506 Financial and Housing Wealth, Expenditures and the Dividend to Ownership. by Sheng Guo & William Hardin * 1505 The True ... 1201 Wealth, Composition, Housing, Income, and Consumption. by William Hardin & Sheng Guo ...