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Homeownership : low household mobility, volatile housing prices, high income dispersion

Ortalo-Magné, François; Rady, Sven - 2002

joint location and tenure mode decisions. To investigate the effect of homeownership on equilibrium prices and allocations … three results. First, homeownership enables more households to remain in the more desirable location at the expense of … newcomers. Second, homeownership adds to the volatility of the housing market. Third, homeownership may amplify the dispersion …

Persistent link: https://www.econbiz.de/10011514075

Game of zones : the political economy of conservation areas

Ahlfeldt, Gabriel M.; Möller, Kristoffer; Waights, Sevrin - 2014 - Version: April 2014

Provided there are positive external benefits attached to the historic character of buildings, owners of properties in designated conservation areas benefit from a reduction in uncertainty regarding the future of their area. At the same time, the restrictions put in place to ensure the...

Persistent link: https://www.econbiz.de/10010344812

Das House-Kapital : a theory of wealth-to-income ratios

Grossmann, Volker; Steger, Thomas - 2016 - April 11, 2016 (Version 1.1)

This paper provides a novel macroeconomic model that is specifically designed to investigate the evolution of housing wealth. To capture the importance of land as an input factor for housing production and for the evolution of wealth in a growing economy, the analysis builds on three premises:...

Persistent link: https://www.econbiz.de/10011451042

Home ownership and household portfolio choice

Michielsen, Thomas; Mocking, Remco; Veldhuizen, Sander van - 2016

We study the effect of home equity and indebtedness on financial portfolio choices of Dutch households during the period 2006-2012. Using a large administrative dataset at the household level we estimate how home equity and the outstanding mortgage amount influence the share of liquid assets...

Persistent link: https://www.econbiz.de/10011415276

Home price expectations and spending : evidence from a field experiment

Anand Chopra, Felix; Roth, Christopher; Wohlfart, Johannes - 2023

How do households adjust their spending behavior in response to changes in home price expectations? We conduct a field experiment with a sample of Americans that links survey data on home price expectations to actual spending behaviour as measured in a rich home-scanner dataset. In the...

Persistent link: https://www.econbiz.de/10014284713

The intergenerational transmission of housing wealth

Daysal, N. Meltem; Lovenheim, Michael F.; Wasser, David N. - 2023

Rising wealth inequality has spurred an increased interest in understanding how and why wealth is correlated across generations. We exploit plausibly exogenous variation in housing wealth driven by home price changes in different areas to isolate the causal impact of parental housing wealth...

Persistent link: https://www.econbiz.de/10014364658

Housing-consumption channel of mortgage demand

Ahlfeldt, Gabriel M.; Szumilo, Nikodem; Tripathy, Jagdish - 2024

We quantify the housing-consumption channel in mortgage demand according to which households borrow more following house-price increases since housing and non-housing consumption are imperfect substitutes. To identify this channel, we take a structural approach to mortgage demand and supply,...

Persistent link: https://www.econbiz.de/10014637339

The diversity of debt crises in Europe

Stein, Jerome L. - 2011

The foreign debts of the European countries are at the core of the current crises. Generally, the crises are attributed to government budget deficits in excess of the values stated in the Stability and Growth Pact (SGP)/Maastricht treaty. Proposals for reform generally involve increasing the...

Persistent link: https://www.econbiz.de/10009010063

Fiscal sustainability of the German Laender : time series evidence

Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2014

In this paper we analyze the sustainability of public finances in the states (Laender) of the Federal Republic of Germany using an unprecedentedly comprehensive fiscal dataset for the time period from 1950 to 2011 for West German Laender and 1991 to 2011 for East German Laender, respectively. In...

Persistent link: https://www.econbiz.de/10010388609

Fiscal sustainability, fiscal reactions, pitfalls and determinants

Afonso, António; Coelho, José Carlos - 2022

We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and one-period lagged public debt-to-GDP ratio; and...

Persistent link: https://www.econbiz.de/10013162289

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