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performance. Third, to the extent that class size matters, it is more important for disadvantaged children. Special education …
Persistent link: https://www.econbiz.de/10013249228
We examine the effect of New York City's universal pre-kindergarten program (UPK) on the health and utilization of children enrolled in Medicaid using a difference-in-regression- discontinuities design. We find that UPK increases the probability that a child is diagnosed with asthma or with...
Persistent link: https://www.econbiz.de/10012902107
Using Waves one through fifteen of the PSID data set, we investigate the pattern of housing mobility amongst the elderly. We focus especially on two issues: (1) Determining which household characteristics tend to increase the probability of a move; and (2) Whether elderly households...
Persistent link: https://www.econbiz.de/10014157557
This paper studies the role of disagreement in amplifying housing cycles. Speculation is easier in the land market than in the housing market due to frictions that make renting less efficient than owner-occupancy. As a result, undeveloped land both facilitates construction and intensifies the...
Persistent link: https://www.econbiz.de/10012965946
In this essay, we review the basic economics of housing supply and the functioning of US housing markets to better understand the distribution of home prices, household wealth and the spatial distribution of people across markets. We employ a cost-based approach to gauge whether a housing market...
Persistent link: https://www.econbiz.de/10012947630
This paper explores the contribution of the structural transformation and urbanization process to China's housing-market boom. Rural to urban migration together with regulated land supplies and developer entry restrictions can raise housing prices. This issue is examined using a multi-sector...
Persistent link: https://www.econbiz.de/10012947649
We document the emergence of a disconnect between mortgage and Treasury interest rates in the summer of 2003. Following the end of the Federal Reserve expansionary cycle in June 2003, mortgage rates failed to rise according to their historical relationship with Treasury yields, leading to...
Persistent link: https://www.econbiz.de/10012948080
We develop a tractable general equilibrium framework of housing and mortgage markets with aggregate and idiosyncratic risks, costly liquidity and strategic defaults, empirically relevant informational asymmetries, and endogenous mortgage design. We show that adverse selection plays an important...
Persistent link: https://www.econbiz.de/10012955442
Despite growing enthusiasm, there is little empirical evidence on how well energy efficiency investments work. Evidence is particularly lacking from low- and middle-income countries, despite a widespread view that these countries have many of the best opportunities. This paper evaluates a field...
Persistent link: https://www.econbiz.de/10012919331
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