Ausgangspunkt der vorliegenden Arbeit ist die Überlegung, dass Arbeits- und Immobilienmärkte nicht als perfekt anzusehen sind und von unvollständigen Informationen sowie Transaktionskosten geprägt sind. Individuen haben daher nicht zu jedem Zeitpunkt Informationen darüber, welche...

This paper builds a dynamic general equilibrium model of cities and uses it to analyze the role of local housing markets and moving costs in determining the character and extent of labor reallocation in the US economy. Labor reallocation in the model is driven by idiosyncratic city-specific...

This study investigated the relationships between housing, housing markets and the labour market. It considered factors such as geographic mobility, reservation wages (i.e. the minimum wage that an unemployed individual can accept) and job search behaviours across a range of housing tenures

This paper presents a simple model of trade in the housing market. The crucial feature is that a minimum downpayment is required for the purchase of a new home. The model has direct implications for the volatility of house prices, as well as for the correlation between prices and trading volume....

This work introduces residential land into a quantitative non-linear model of financial crises devised to study the design and effectiveness of optimal macroprudential policy. The model accounts for news shocks about future fundamentals and regime changes in global liquidity. Results show that...

This paper analyses the effects of borrower-specific credit constraints on macroeconomic outcomes in an agent-based housing market model, calibrated using U.K. household survey data. We apply different Loan-to-Value (LTV) caps for different types of agents: first-time-buyers, second and...

The main rationale for wage subsidies is giving job opportunities to workers who would otherwise remain unemployed or take jobs that do not exploit their potential productivity. The aim of this paper is to evaluate the wage subsidy programme in North Macedonia for the period 2018-2019 in order...