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Chapter 12. Housing, Finance, and the Macroeconomy

Davis, Morris A.; Van Nieuwerburgh, Stijn - In: Handbook of regional and urban economics : volume 5, (pp. 753-811). 2015

In this chapter, we review and discuss the large body of research that has developed over the past 10-plus years that explores the interconnection of macroeconomics, finance, and housing. We focus on three major topics—housing and the business cycle, housing and portfolio choice, and housing...

Persistent link: https://www.econbiz.de/10014025303

Expenditure, Confidence, and Uncertainty: Identifying Shocks to Consumer Confidence Using Daily Data

Lachowska, Marta - W.E. Upjohn Institute for Employment Research - 2013

The importance of consumer confidence in stimulating economic activity is a disputed issue in macroeconomics. Do changes in confidence represent autonomous fluctuations in optimism, independent of information on economic fundamentals, or are they a reflection of economic news? I study this...

Persistent link: https://www.econbiz.de/10010665206

News or animal spirits? : consumer confidence and economic activity : redux

Choi, Sangyup; Jeong, Jaehun; Park, Dohyeon; Yoo, Donghoon - In: Journal of applied econometrics 39 (2024) 5, pp. 960-966

Persistent link: https://www.econbiz.de/10015156796

Does consumer confidence affect durable goods spending during bad and good economic times equally?

Ahmed, M. Iqbal; Cassou, Steven Peter - In: Journal of macroeconomics 50 (2016), pp. 86-97

Persistent link: https://www.econbiz.de/10011707869

The role of consumer confidence in forecasting consumption, evidence from Florida

Sandoval, Hector H.; Walsh, Anita N. - In: Southern economic journal 88 (2021) 2, pp. 757-788

Persistent link: https://www.econbiz.de/10013190290

Household Debt: Facts, Puzzles, Theories, and Policies

Zinman, Jonathan - National Bureau of Economic Research (NBER) - 2014

Borrowing decisions affect most households, with large stakes and implications for subfields as varied as macroeconomics and industrial organization. I review theoretical and empirical work on household debt: its prevalence, level, growth, and composition, as well as various measures of consumer...

Persistent link: https://www.econbiz.de/10010951247

Wiedergewinnung von Vertrauen oder Rueckkehr der Vertrauensillusion? Ein Plaedoyer fuer gesundes Misstrauen gegenueber systematischen Tautologien (Regain of Trust or the Return of...

Weber-Berg, Christoph - In: Zeitschrift für Wirtschafts- und Unternehmensethik - … 11 (2010) 2, pp. 126-138

Moral, sondern mehr ethische Kompetenz auf allen Gestaltungsebenen des Wirtschaftens gefordert. (The loss of trust in the … context of the actual crisis is widely deplored. But how deep were the roots of trust after all? This article argues that the … financial system, even in times of well functioning, was affected by deep mistrust, masked by a mere illusion of trust, evolving …

Persistent link: https://www.econbiz.de/10008765273

Income and Consumption Smoothing Among US States: Regions or Clubs?

Sørensen, Bent E; Yosha, Oved - C.E.P.R. Discussion Papers - 1997

We measure the amount of income insurance and cross-sectional consumption smoothing (lending and borrowing) achieved within subgroups of states, such as regions or clubs, e.g. the club of rich states. We find that there is as much income insurance between, as well as within, regions. By...

Persistent link: https://www.econbiz.de/10005504778

Credit Crunches and Credit Allocation in a Model of Entrepreneurship

Bassetto, Marco; Cagetti, Marco; Nardi, Mariacristina De - In: Review of Economic Dynamics 18 (2015) 1, pp. 53-76

We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a realistic firm-size distribution. As entrepreneurial firms can grow only slowly and rely heavily on retained earnings to expand the size of their business, we show that, by reducing...

Persistent link: https://www.econbiz.de/10011160658

A Quantitative Analysis of the US Housing and Mortgage Markets and the Foreclosure Crisis

Chatterjee, Satyajit; Eyigungor, Burcu - In: Review of Economic Dynamics 18 (2015) 2, pp. 165-184

We present a model of long-duration collateralized debt with risk of default. Applied to the housing market, it can match the homeownership rate, the average foreclosure rate, and the lower tail of the distribution of home-equity ratios across homeowners prior to the recent crisis. We stress the...

Persistent link: https://www.econbiz.de/10011268090