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The Effect of Housing on Portfolio Choice: A Reappraisal Using French Data
Fougère, Denis; Poulhes, Mathilde - C.E.P.R. Discussion Papers - 2012
Chetty and Szeidl (2012) propose to estimate the effect of housing on portfolio choice by distinguishing between the …
Persistent link: https://www.econbiz.de/10011083391
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Consumer Spending and the Economic Stimulus Payments of 2008
Parker, Jonathan A.; Souleles, Nicholas S; Johnson, David S. - National Bureau of Economic Research (NBER) - 2011
We measure the response of household spending to the economic stimulus payments (ESPs) disbursed in mid-2008, using special questions added to the Consumer Expenditure Survey and variation arising from the randomized timing of when the payments were disbursed. We find that, on average,...
Persistent link: https://www.econbiz.de/10008788769
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Housing and the Macroeconomy: The Role of Bailout Guarantees for Government Sponsored Enterprises
Jeske, Karsten; Krueger, Dirk; Mitman, Kurt - C.E.P.R. Discussion Papers - 2011
heterogeneous, infinitely lived households and competitive housing and mortgage markets. Households have the option to default on … equilibrium mortgage origination and increases aggregate welfare, but has little effect on foreclosure rates and housing …
Persistent link: https://www.econbiz.de/10009351520
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Debt Portfolios
Hintermaier, Thomas; Koeniger, Winfried - C.E.P.R. Discussion Papers - 2011
by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the …
Persistent link: https://www.econbiz.de/10009001063
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Search and Matching in the Housing Market
Genesove, David; Han, Lu - C.E.P.R. Discussion Papers - 2010
Housing markets clear, in part, through the time that buyers and sellers spend on the market. We show that demand …
Persistent link: https://www.econbiz.de/10008468515
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The Price and Quantity of Residential Land in the United States
Davis, Morris; Heathcote, Jonathan - C.E.P.R. Discussion Papers - 2005
A house is a bundle comprising a physical structure and the plot of land upon which the house is built. Thus changes in house prices reflect changes in the cost of structures and value of land. In this paper we apply this insight to construct the first constant-quality price and quantity indexes...
Persistent link: https://www.econbiz.de/10005123787
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Does Home Owning Smooth the Variability of Future Housing Consumption?
Sinai, Todd; Paciorek, Andrew - National Bureau of Economic Research (NBER) - 2010
We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a … current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of … housing are offset by commensurate changes in wealth before the move. Using Census micro-data, we find that the cross …
Persistent link: https://www.econbiz.de/10008727860
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Do households use home-ownership to insure themselves? Evidence across U.S. cities
Amior, Michael; Halket, Jonathan - London School of Economics (LSE) - 2014
Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan … inference is confounded by house price levels, which are systematically correlated with housing risk in an intuitive way: in …
Persistent link: https://www.econbiz.de/10011126690
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Are Americans and Indians More Altruistic than the Japanese and Chinese? Evidence from a New International Survey of Bequest Plans
Horioka, Charles Yuji - National Bureau of Economic Research (NBER) - 2014
This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...
Persistent link: https://www.econbiz.de/10010951187
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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