Showing 1 - 10 of 41
Assets in tax-deferred retirement accounts (TDA) and housing are two major components of household portfolios. In this … paper, we develop a life-cycle model to examine the interaction between households' use of TDA and their housing decisions … earlier in their lives. On the other hand, housing-related policies, such as a minimum down payment requirement and mortgage …
Persistent link: https://www.econbiz.de/10011564704
the United States, housing collateral effects on consumption are absent. Given credit conditions, rising house prices … mostly explained by movements in incomes, housing supply, mortgage interest rates and credit conditions, suggesting that the …
Persistent link: https://www.econbiz.de/10011481488
In this paper, we estimate the effect on housing prices of the expansion of the Vancouver SkyTrain rapid transit … expansion increases housing prices not only in neighborhoods where the expansion occurred, but also in those with access to pre …-existing segments of the network. We show how these network housing price effects depend on household commuting patterns, and discuss …
Persistent link: https://www.econbiz.de/10012014474
-deviation contractionary monetary policy surprise lowers housing list prices by 0.2%- 0.3% within two weeks-a magnitude on par with the effect …
Persistent link: https://www.econbiz.de/10014304186
the long-run variance of the ratio of house prices to non-housing consumption. Most of the variation in the house price …. On average, a permanent 1 per cent decline in real import prices raises the ratio of real house prices to non-housing …
Persistent link: https://www.econbiz.de/10011756447
This paper imagines a world in which countries are on the Bitcoin standard, a monetary system in which all media of exchange are Bitcoin or are backed by it. The paper explores the similarities and differences between the Bitcoin standard and the gold standard and describes the media of exchange...
Persistent link: https://www.econbiz.de/10011564694
A novel dataset from the Bank of Canada is used to estimate the deposit functions for banknotes in Canada for three denominations: $1,000, $100 and $50. The broad flavour of the empirical findings is that denominations are different monies, and the structural estimates identify the underlying...
Persistent link: https://www.econbiz.de/10012014475
This paper examines the experience of Sweden with government notes and private bank notes to determine how well the Swedish experience corresponds to that of Canada and the United States. Sweden is important to study because it has had government notes in circulation for more than 350 years, and...
Persistent link: https://www.econbiz.de/10012014482
This paper proposes a new bootstrap procedure for mean squared errors of robust smallarea estimators. We formally prove the asymptotic validity of the proposed bootstrap method and examine its finite sample performance through Monte Carlo simulations. The results show that our procedure performs...
Persistent link: https://www.econbiz.de/10012014483
This paper proposes a method for estimating the joint distribution of two or more variables when only their marginal distributions and the distribution of their aggregates are observed. Nonparametric identification is achieved by modelling dependence using a latent commonfactor structure....
Persistent link: https://www.econbiz.de/10012014484