urban growth. This model shows that new housing construction is best described as a function of changes in house prices and … a permanent jump in new construction and thus an infinite increase in the stock of housing. The empirical tests of the …Housing supply plays an important role in the volatility of macroeconomic cycles and the speed with which house prices …

using a new model called an aggregation VAR (AVAR). The model integrates a national financial market with regional housing …This paper quantifies the importance of heterogeneity in regional housing markets for the conduct of monetary policy … markets, imposing all exact aggregation conditions. Monetary policy is transmitted to the real economy through the mortgage …

, demographics, new construction, proximity to the downtown, and to aggregate school enrollments. These findings support the view …

Massachusetts Mortgage Bankers Association 2009 Annual Dinner, January 8, 2009 …

Outlook Seminar, Stockholm, Sweden, September 28, 2011 …

targeted toward first-time home purchases. The study of transfer behavior in the housing market is advantageous for a number of …

We study a model of portfolio choice, in which housing prices are predictable and adjustment costs must be paid when … there is a housing transaction. We show that two state variables affect the agent's decisions: (i) his wealth-house ratio …; and (ii) the time-varying expected growth rate of housing prices. The agent buys (sells) his housing assets only when the …