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We analyze households' joint investment decisions for financial wealth and homes.In our bivariate censored regression model with endogenous switching, fixed costs or transaction costs are captured by a threshold that has to be passed before the purchase.The model allows for spill-over effects of...
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In this paper we model expenditure on housing for owners and renters by means of endogenous switching regression models … using cross-section data. We explain the share of housing in total expenditure from family characteristics and total … housing and the logarithm of total expenditure and on the baisi of budget elasticities. …
Persistent link: https://www.econbiz.de/10011092250
In this paper we model expenditure on housing for owners and renters by means of endogenous switching regression models … for panel data. We explain the share of housing in total expenditure from a household specific effect, family …
Persistent link: https://www.econbiz.de/10011092382
Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income...
Persistent link: https://www.econbiz.de/10011092541
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The paper studies simple strategies of labor tax reform in a search and matching model of the labor market featuring …
Persistent link: https://www.econbiz.de/10011090457
Random matching models with different states are an important class of dynamic games; for example, money search models …, job search models, and some games in biology are special cases.In this paper, we investigate the basic structure of the …
Persistent link: https://www.econbiz.de/10011090770
This paper stresses the importance of a specification of the matching function in which the measure of job matches … corresponds to the measure of job searchers. In many empirical studies on the matching function this requirement has not been … market. In this paper, we specify and estimate matching functions where the flow corresponds to the correct stock. We use …
Persistent link: https://www.econbiz.de/10011091232