of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the … for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate …

in low demand markets and shrink in high demand markets. This is a puzzle. Symmetry of information among buyers and …. Because there is heterogeneity among buyers in the valuation of a given house, sellers set prices strategically. When demand …

going to understand boom-bust housing cycles, we must incorporate housing supply. In this paper, we present a simple model … of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … exclusively experienced in cities where housing supply is more inelastic. More elastic places had slightly larger increases in …

We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks … - deviations from a time trend of output per area, which are predominantly caused by weather fluctuations. Demand is identified … using current-period shocks that give rise to exogenous shifts in supply. Supply is identified using past shocks, which …

the bid-rent curve is larger when working from home is more prevalent, housing markets are more regulated, and supply is …

empirical strategy for estimating so-called 'zoning taxes' - the amount by which land prices are bid up due to supply side … zoning tax estimates are strongly positively correlated with a new measure of local housing market supply constraint (the …

supply elasticity as an instrument for house price growth, we estimate that the average homeowner extracts 25 to 30 cents for …