Narrow search
Showing 1 - 10 of 678
Cover Image
Supply Restrictions, Subprime Lending and Regional US House Prices
Anundsen, André K. - 2015
, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan …
Persistent link: https://www.econbiz.de/10013025976
Cover Image
The Great Mortgaging : Housing Finance, Crises, and Business Cycles
Jordà, Òscar - 2015
course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have …
Persistent link: https://www.econbiz.de/10013032225
Cover Image
Betting the House
Jorda, Oscar - 2015
Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...
Persistent link: https://www.econbiz.de/10013030308
Cover Image
House Prices, Local Demand, and Retail Prices
Stroebel, Johannes - 2015
We use detailed micro data to document a causal response of local retail price to changes in house prices, with elasticities of 15%-20% across housing booms and busts. Notably, these price responses are largest in zip codes with many homeowners, and non-existent in zip codes with mostly renters....
Persistent link: https://www.econbiz.de/10013009877
Cover Image
Did US Consumers 'Save for a Rainy Day' Before the Great Recession?
Anundsen, André K. - 2015
The ‘saving for a rainy day' hypothesis implies that households' saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...
Persistent link: https://www.econbiz.de/10013022495
Cover Image
Income and Wealth Inequality in America, 1949-2016
Kuhn, Moritz - 2018
This paper introduces a new long-run dataset based on archival data from historical waves of the Survey of Consumer Finances. The household-level data allow us to study the joint distributions of household income and wealth since 1949. We expose the central importance of portfolio composition...
Persistent link: https://www.econbiz.de/10012932905
Cover Image
A Vicious Cycle of Manias, Crashes and Asymmetric Policy Responses - An Overinvestment View
Hoffmann, Andreas - 2013
The business cycles theories of Wicksell (1898), Schumpeter (1912), Mises (1912), Hayek (1929, 1935) and Minsky (1986, 1992) explain business cycles by distorted prices on capital markets, buoyant credit expansion and overinvestment. The exuberance during the boom endogenously causes the...
Persistent link: https://www.econbiz.de/10013095338
Cover Image
Low Homeownership in Germany - A Quantitative Exploration
Kaas, Leo - 2018
broad eligibility criteria, high transfer taxes when buying real estate, and no tax deductions for mortgage interest … mortgage interest tax deductions, but it would improve in the absence of social housing, in particular when coupled with …
Persistent link: https://www.econbiz.de/10012929253
Cover Image
Consumption, Wealth, Stock and Housing Returns : Evidence from Emerging Markets
Caporale, Guglielmo Maria; Sousa, Ricardo M. - 2021
In this paper, we show, using the consumer’s budget constraint, that the residuals of the trend relationship among consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for a panel of 31 emerging economies and find that,...
Persistent link: https://www.econbiz.de/10013315965
Cover Image
How Do Banks and Households Manage Interest Rate Risk? Evidence from the Swiss Mortgage Market
Basten, Christoph - 2017
We exploit a unique data set that features both un-intermediated mortgage requests and independent offers from multiple … current mortgage payments over the risk of possible hikes in future mortgage payments. We also provide evidence that banks do … influence the contracted mortgage rate fixation periods, trading off their own exposure to interest rate risk against the …
Persistent link: https://www.econbiz.de/10012946926