Showing 1 - 10 of 681
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
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
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
The paper compares the dynamics of housing prices in fifteen OECD countries. The data reveal a remarkable degree of …
Persistent link: https://www.econbiz.de/10005779775
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
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
Persistent link: https://www.econbiz.de/10005669577
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
Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the wealth distribution over individual life cycles. There are life-cycle motives and precautionary motives for wealth accumulation. The opportunities to accumulate wealth create...
Persistent link: https://www.econbiz.de/10009416200
Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the wealth distribution over individual life cycles. There are life-cycle motives and precautionary motives for wealth accumulation. The opportunities to accumulate wealth create...
Persistent link: https://www.econbiz.de/10010699698