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Shiller, Robert J. - 2010

Home equity insurance policies, policies insuring homeowners against declines in the price of their homes, would bear some resemblance both to ordinary insurance and to financial hedging vehicles. A menu of choices for the design of such policies is presented here, and conceptual issues are...

Persistent link: https://www.econbiz.de/10012763566

Testing for Information Asymmetries in Real Estate Markets

Kurlat, Pablo D. - 2014

home owners have superior information about important neighborhood characteristics, and exploit this information to time …

Persistent link: https://www.econbiz.de/10013059752

Rational Housing Bubble

Zhao, Bo - 2013

This paper studies an economy inhabited by overlapping generations of homeowners and investors, with the only difference between the two being that homeowners derive utility from housing services whereas investors do not. Tight collateral constraint limits the borrowing capacity of homeowners...

Persistent link: https://www.econbiz.de/10013077222

Arbitrage in Housing Markets

Glaeser, Edward L. - 2015

Urban economists understand housing prices with a spatial equilibrium approach that assumes people must be indifferent across locations. Since the spatial no arbitrage condition is inherently imprecise, other economists have turned to different no arbitrage conditions, such as the prediction...

Persistent link: https://www.econbiz.de/10012750289

Taxes and the User Cost of Capital for Owner-Occupied Housing

Hendershott, Patric H.; Slemrod, Joel B. - 2022

Owner-occupied housing is said to be favored in the tax code because mortgage interest and property taxes can be deducted in the computation of one's income tax base in spite of the fact that the returns from owner- occupied housing = not taxed. The special tax treatment reduces the user cost of...

Persistent link: https://www.econbiz.de/10013308370

Incentives and Social Capital : Are Homeowners Better Citizens?

DiPasquale, Denise; Glaeser, Edward L. - 2021

about their political leaders, joining non-professional organizations and even gardening. Homeownership may encourage these … investments because homeownership gives individuals an incentive to improve their community and because homeownership creates … conclusive, we find evidence that a large portion of the effect of homeownership on these investments may come from lower …

Persistent link: https://www.econbiz.de/10013226987

The Efficiency of the Market for Single-Family Homes

Case, Karl E.; Shiller, Robert J. - 2021

Tests of weak-form efficiency of the market for single family homes are performed using data on repeat sales prices of 39,210 individual homes, each for two sales dates. Tests were done for Atlanta, Chicago, Dallas, and San Francisco/Oakland for 1970-86. While evidence for seasonality in real...

Persistent link: https://www.econbiz.de/10013229069

International Risk Sharing in the Short Run and in the Long Run

Baxter, Marianne - 2011

International risk-sharing has far-reaching implications both for economic policy and for basic research in economics. When countries do not share risk, individuals in those countries experience fluctuations in their consumption levels that are undesirable and possibly unnecessary. This paper...

Persistent link: https://www.econbiz.de/10013129220

Tipping Points and Ambiguity in the Economics of Climate Change

Lemoine, Derek - 2012

We model welfare-maximizing policy in an infinite-horizon setting when the probability of a tipping point, the welfare change due to a tipping point, and knowledge about a tipping point's trigger all depend on the policy path. Analytic results demonstrate how optimal policy depends on the...

Persistent link: https://www.econbiz.de/10013103801

Market Design in Cap and Trade Programs : Permit Validity and Compliance Timing

Holland, Stephen P. - 2012

have different validity across time (e.g., banking, borrowing, and seasons) and space (e.g., zonal restrictions), and …

Persistent link: https://www.econbiz.de/10013106300

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