Between 1960 and 1980, the number of households in the U.S. increased by 50 percent and the proportion of the population that were household heads rose from 29.5 to 36.3. While some of this increase was due to the maturing of the"baby boom" population, over half was caused by rising age-specific...

This paper summarizes the impact of economic, social and demographic variables on household formations and home ownership in the 1960-85 period and uses this knowledge to forecast household formations, and their split between owners and renters, through the year 2000. High and low growth...

This paper uses a general equilibrium model to simulate both the effects of a preferential capital-gains tax rate on total income tax revenues and the effects of a revenue-neutral substitution between a capital gains preference and marginal income tax rates on economic efficiency and the...

Portfolio-based general equilibrium models are useful for analyzing the interaction between the structure of individual tax rates and the way particular assets are taxed, for considering the role of differential tax rules and risk in determining household portfolio choices, and for addressing...

In recent years, the conforming loan limit hes risen rapidly (62 percent between 1985 and 1989 versus a 10 percent rise in the price of a constant-quality new house) and has assumed significant importance to homebuyers and portfolio lenders. Fannie Mae and Freddie Mac have become the price...

The Reagan Administration entered office in 1981 with one of the clearest and moat ambitious agendas in recent times. The new administration advanced five economic/budgetary goals to rebuild America economically and militarily: (1) reduce inflation, (2) deregulate the economy, (3) cut taxes, (4)...

Although the economic literature has analyzed some components of the headship decision, study of household formation has been primarily in the realm of demography. We begin with a pure demographic model and expand it to include additional determinants of the decision to remain with parents or...

While there seems to be no end to estimates of housing tenure determinants, prior studies have not accounted for the simultaneity of tenure choice with household formation, labor supply or the marriage decision. Our estimates are superior to those in the literature both because we address these...

This paper develops and employs a five-asset, four-household and single-business sector simulation model to measure the long-run impacts of the major provisions of the Economic Recovery Tax Act of 1981 on the allocation of a fixed capital stock among owner-occupied housing, rental housing, and...

We have constructed a simple two-sector model of the demand for housing and corporate capital. An increase in the inflation rate, with and with- out an increase in the risk premium on equities, was then simulated with a number of model variants. The model and simulation experiments illustrate...