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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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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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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
Private pension provision faces the challenging task of providing stable income streams during retirement. The challenge has increased markedly in the last decades due to volatile financial markets, falling interest rates and the withdrawal of employers and external insurers as risk bearers of...
Persistent link: https://www.econbiz.de/10011252616
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The Dynamics of Homeownership Among the 50+ in Europe
Angelini, Viola; Brugiavini, Agar; Weber, Guglielmo - C.E.P.R. Discussion Papers - 2012
We use life history data covering households in thirteen European countries to analyse residential moves past age 50. We observe four types of moves: renting to owning, owning to renting, trading up or trading down for home-owners. We find that in the younger group (aged 50-64) trading up and...
Persistent link: https://www.econbiz.de/10011084196
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Differences in Portfolios across Countries: Economic Environment versus Household Characteristics
Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - C.E.P.R. Discussion Papers - 2010
We document and study international differences in both ownership and holdings of stocks, private businesses, homes, and mortgages among households aged fifty or more in thirteen countries, using new and comparable survey data. We employ counterfactual techniques to decompose observed...
Persistent link: https://www.econbiz.de/10008642873
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The Impact of Changing Demographics and Pensions on The Demand for Housing and Financial Assets
Cerny, Ales; Miles, David K; Schmidt, Lubomir - C.E.P.R. Discussion Papers - 2005
social security upon the demand for housing and the level of owner occupation is substantial. The overall structure of … generosity of state run, pay-as-you-go pensions. The interaction between social security reform and housing market conditions is … significant and suggests that any changes in pension rules will have substantial knock on effects on the housing market. …
Persistent link: https://www.econbiz.de/10005662297
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Are Household Portfolios Efficient? An Analysis Conditional on Housing
Pelizzon, Loriana; Weber, Guglielmo - C.E.P.R. Discussion Papers - 2003
illiquid wealth. In the case of household portfolios, the most important illiquid asset is housing: if housing stock … periods of no adjustment that are affected by housing price risk (through a hedge term). When the housing stock is not … adjusted, we argue that tests for portfolio efficiency of financial assets must then be run conditionally upon housing wealth …
Persistent link: https://www.econbiz.de/10005114460