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Perception of House Price Risk and Homeownership
Adelino, Manuel - 2018
response to past (local) house price changes, but renters are much slower to update than owners. Since renters' decisions to …
Persistent link: https://www.econbiz.de/10012910636
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Intracompany Governance and Innovation
Belenzon, Sharon - 2014
This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and publicly traded innovating firms in the US and 15 European countries. A striking novel observation emerges from our analysis: while most innovating firms in the US are publicly...
Persistent link: https://www.econbiz.de/10013070812
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Love or Money? the Effects of Owner Motivation in the California Wine Industry
Scott Morton, Fiona M.; Podolny, Joel M. - 2021
Many industries are characterized by heterogeneous objectives on the part of firm owners. Owners of private firms, in … particular, are likely to maximize utility, rather than profits. In this paper, we model and measure motivations of owners in on … of these motivations for market behavior. We find evidence that owners with strong non-financial motivations choose …
Persistent link: https://www.econbiz.de/10013224862
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Owning, Using and Renting : Some Simple Economics of the "Sharing Economy"
Horton, John J. - 2016
New Internet-based markets enable consumer/owners to rent out their durable goods when not using them. Such markets are …
Persistent link: https://www.econbiz.de/10012997898
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Endogenous Sources of Volatility in Housing Markets : The Joint Buyer-Seller Problem
Anenberg, Elliot - 2013
busts in the housing market, (ii) create counter-cyclical build-ups of mismatch of existing owners with their homes, and …
Persistent link: https://www.econbiz.de/10013083083
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A Theory of Housing Demand Shocks
Liu, Zheng - 2019
Aggregate housing demand shocks are an important source of house price fluctuations in the standard macroeconomic models, and through the collateral channel, they drive macroeconomic fluctuations. These reduced-form shocks, however, fail to generate a highly volatile price-to-rent ratio that...
Persistent link: https://www.econbiz.de/10012890467
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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
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An Extrapolative Model of House Price Dynamics
Glaeser, Edward L. - 2015
A modest approximation by homebuyers leads house prices to display three features that are present in the data but usually missing from perfectly rational models: momentum at one-year horizons, mean reversion at five-year horizons, and excess longer-term volatility relative to fundamentals....
Persistent link: https://www.econbiz.de/10013025785
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Using Market Valuation to Assess Public School Spending
Barrow, Lisa; Rouse, Cecilia E. - 2021
In this paper we use a 'market-based' approach to examine whether increased school expenditures are valued by potential residents and whether the current level of public school provision is inefficient. We do so by employing an instrumental variables strategy to estimate the effect of state...
Persistent link: https://www.econbiz.de/10013236678
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Robustly Optimal Monetary Policy in a New Keynesian Model with Housing
Adam, Klaus; Woodford, Michael - 2022
We analytically characterize optimal monetary policy for an augmented New Keynesian model with a housing sector. With rational private sector expectations about housing prices and inflation, optimal monetary policy can be characterized by a standard “target criterion” in terms of inflation...
Persistent link: https://www.econbiz.de/10013323284