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The Effects of Flood Insurance on Housing Markets

Indaco, Agustín - 2018

We analyze the role of food insurance on the housing markets of coastal cities. To do so we have assembled a parcel-level dataset including the universe of residential sales for three coastal urban areas in the United States – Miami-Dade county (2008-2015), New York city (2003-2016), and...

Persistent link: https://www.econbiz.de/10012910751

Home Ownership and Home Equity Promote Entrepreneurial Activity

Hassink, Wolter H. J.; Millone, Matteo; Mocking, Remco; … - 2021

This paper studies the effects of private real estate collateral on entrepreneurial lending and entrepreneurial activity in the Netherlands. The residential collateral channel is especially relevant for sole-proprietors who own a business with unlimited liability. We used administrative data on...

Persistent link: https://www.econbiz.de/10013240296

Homeownership and Entrepreneurship : The Role of Commitment and Mortgage Debt

Bracke, Philippe - 2013

where homeowners commit a fixed budget to mortgage payments. Our model predicts that: (i) mortgage commitments, by … and entrepreneurship is increasing in mortgage debt; and (iii) the negative relation is more pronounced for entrepreneurs …

Persistent link: https://www.econbiz.de/10013080871

Does Homeownership Lead to Longer Unemployment Spells? The Role of Mortgage Payments

Baert, Stijn - 2013

. We contribute to the literature in distinguishing homeowners with mortgage payments and outright homeowners. We … homeowner, a homeowner with mortgage payments or a tenant by a mixed multinomial logit model. To be able to correctly identify … results show that homeowners with a mortgage exit unemployment first. Outright owners stay unemployed the longest. Tenants …

Persistent link: https://www.econbiz.de/10013072160

Dynastic Home Equity

Benetton, Matteo; Kudlyak, Marianna; Mondragon, John - 2022

the importance of familial wealth for household wealth accumulation and housing wealth in particular. A back …-of-the-envelope calculation suggests that dynastic home equity increases housing wealth inequality among young adults by 20% …

Persistent link: https://www.econbiz.de/10013404697

Explaining the Favorite-Longshot Bias : Is it Risk-Love or Misperceptions?

Snowberg, Erik - 2011

The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates of the probability of a horse winning - longshots are overbet, while favorites are underbet. Neoclassical explanations of this phenomenon focus on rational gamblers who overbet...

Persistent link: https://www.econbiz.de/10013133624

Predictability of Asset Returns and the Efficient Market Hypothesis

Pesaran, M. Hashem - 2010

norm, but it is likely to be punctuated with episodes of bubbles and crashes. The paper also considers if market …

Persistent link: https://www.econbiz.de/10013141228

Testing CAPM with a Large Number of Assets

Pesaran, M. Hashem - 2012

This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to Sharpe (1964) and Lintner (1965), when the number of securities, N, is large relative to the time dimension, T, of the return series. In the case of cross-sectionally correlated...

Persistent link: https://www.econbiz.de/10013107698

Give Me Your Wired and Your Highly Skilled : Measuring the Impact of Immigration Policy on Employers and Shareholders

Lin, Carl - 2013

The paper links finance theory to labor economics and political economy in the context of migration and immigration policy. Most research treating the impact of immigration has focused on the consequences for employees as measured by wages, earnings, and employment. Less is known about the...

Persistent link: https://www.econbiz.de/10013092819

Stock Market Returns and Consumption

Di Maggio, Marco - 2018

capital gains lead to a marginal propensity to consume (MPC) of 13 percent for the bottom 50% of the wealth distribution, but … payouts across all parts of the wealth distribution. Our findings are consistent with households treating capital gains and …

Persistent link: https://www.econbiz.de/10012925516