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Homeownership : low household mobility, volatile housing prices, high income dispersion
Ortalo-Magné, François; Rady, Sven - 2002
joint location and tenure mode decisions. To investigate the effect of homeownership on equilibrium prices and allocations … three results. First, homeownership enables more households to remain in the more desirable location at the expense of … newcomers. Second, homeownership adds to the volatility of the housing market. Third, homeownership may amplify the dispersion …
Persistent link: https://www.econbiz.de/10011514075
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Homeownership : low household mobility, volatile housing prices, high income dispersion
Ortalo-Magné, François; Rady, Sven - 2002
joint location and tenure mode decisions. To investigate the effect of homeownership on equilibrium prices and allocations … three results. First, homeownership enables more households to remain in the more desirable location at the expense of … newcomers. Second, homeownership adds to the volatility of the housing market. Third, homeownership may amplify the dispersion …
Persistent link: https://www.econbiz.de/10001739593
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A Spatiotemporal Equilibrium Model of Migration and Housing Interlinkages
Cun, Wukuang - 2020
This paper develops and solves a spatiotemporal equilibrium model in which regional wages and house prices are determined jointly with location-to-location migration flows. The agent's optimal location choice and the resultant migration process is shown to be Markovian with the transition...
Persistent link: https://www.econbiz.de/10012852498
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A Spatiotemporal Equilibrium Model of Migration and Housing Interlinkages
Cun, Wukuang; Pesaran, M. Hashem - 2022
This paper develops and solves a spatiotemporal equilibrium model in which regional wages and house prices are jointly determined with location-to-location migration flows. The agent’s optimal location choice and the resultant migration process are shown to be Markovian, with the transition...
Persistent link: https://www.econbiz.de/10013323973
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Cultural biases in migration : estimating non-monetary migration costs
Falck, Oliver; Lameli, Alfred; Ruhose, Jens - 2015
Ever since Sjaastad (1962), researchers have struggled to quantify the psychic costs of migration. We monetize psychic cost as the wage premium for moving to a culturally different location. We combine administrative social security panel data with a proxy for cultural difference based on...
Persistent link: https://www.econbiz.de/10010498534
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Economic shocks and internal migration
Monras, Joan - 2015
Previous literature shows that internal migration rates are strongly procyclical. This would seem to imply that geographic relocation does not help mitigate negative local economic shocks during recessions. This paper shows that this is not the case. I document that net in-migration rates...
Persistent link: https://www.econbiz.de/10010479002
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Risk attitudes and household migration decisions
Dustmann, Christian; Fasani, Francesco; Meng, Xin; … - 2017
This paper analyses the relation between individual migrations and the risk attitudes of other household members when migration is a household decision. We develop a simple model that implies that which member migrates depends on the distribution of risk attitudes among all household members,...
Persistent link: https://www.econbiz.de/10011625338
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Compliance with the institutional wage in dualistic models
Martins, Ana Paula - 2011
This research extends simple two-sector models in order to inquire the impact of the extent of coverage or enforcement of minimum wage legislation in one of the sectors on the equilibrium outcome. Two versions of institutional wage avoidance are presented. They may be seen as representing...
Persistent link: https://www.econbiz.de/10011524841
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Compliance with the institutional wage in dualistic models
Martins, Ana Paula - 2011
This research extends simple two-sector models in order to inquire the impact of the extent of coverage or enforcement of minimum wage legislation in one of the sectors on the equilibrium outcome. Two versions of institutional wage avoidance are presented. They may be seen as representing...
Persistent link: https://www.econbiz.de/10011524877
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Risk Attitudes and Household Migration Decisions
Dustmann, Christian - 2017
This paper analyses the relation between individual migrations and the risk attitudes of other household members when migration is a household decision. We develop a simple model that implies that which member migrates depends on the distribution of risk attitudes among all household members,...
Persistent link: https://www.econbiz.de/10012960287