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Housing Supply and Housing Bubbles
Glaeser, Edward L. - 2015
Like many other assets, housing prices are quite volatile relative to observable changes in fundamentals. If we are going to understand boom-bust housing cycles, we must incorporate housing supply. In this paper, we present a simple model of housing bubbles that predicts that places with more...
Persistent link: https://www.econbiz.de/10012750145
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Does Capital Scarcity Matter?
Chari, Anusha - 2017
This paper quantifies the welfare impact of a permanent increase in the level of per capita income brought about by a temporary increase in the growth rate of GDP per capita following capital account liberalization. In the immediate aftermath of liberalization, and under a range of assumptions,...
Persistent link: https://www.econbiz.de/10012945626
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Trade Openness and Investment Instability
Razin, Assaf; Sadka, Efraim; Coury, Tarek - 2021
In the presence of lumpy investment cost of adjustment, globalization may have non-conventional effects on the level of … investment and its cyclical behavior. Trade openness may lead to a discrete 'jump' in the level of investment, as it may trigger … a discrete change in the terms of trade. Such a shift creates a sizeable boost in aggregate investment. But trade …
Persistent link: https://www.econbiz.de/10013247188
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Trade and Investment in the Global Economy
Anderson, James E. - 2017
We develop a dynamic multi-country trade model with foreign direct investment (FDI) in the form of non-rival technology …
Persistent link: https://www.econbiz.de/10012948432
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Capital Goods Prices, Global Capital Markets and Accumulation, 1870-1950
Collins, William J.; Williamson, Jeffrey G. - 2021
variety of tests for world financial capital market integration ranging from the correlation of saving and investment …
Persistent link: https://www.econbiz.de/10013231239
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How Collateral Laws Shape Lending and Sectoral Activity
Calomiris, Charles W. - 2016
We demonstrate the central importance of creditors' ability to use “movable” assets as collateral (as distinct from “immovable” real estate) when borrowing from banks. Using a unique cross-country micro-level loan dataset containing loan-to-value ratios for different assets, we find that...
Persistent link: https://www.econbiz.de/10013000520
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Portfolio Choice in Retirement : Health Risk and the Demand for Annuities, Housing, and Risky Assets
Yogo, Motohiro - 2010
In a life-cycle model, a retiree faces stochastic health depreciation and chooses consumption, health expenditure, and the allocation of wealth between bonds, stocks, and housing. The model explains key facts about asset allocation and health expenditure across health status and age. The...
Persistent link: https://www.econbiz.de/10013150983
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Baby Boomer Retirement Security : The Roles of Planning, Financial Literacy, and Housing Wealth
Lusardi, Annamaria - 2007
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though Boomers rely more on housing equity than their...
Persistent link: https://www.econbiz.de/10012778261
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The Total Risk Premium Puzzle
Jordà, Òscar - 2019
The risk premium puzzle is worse than you think. Using a new database for the U.S. and 15 other advanced economies from 1870 to the present that includes housing as well as equity returns (to capture the full risky capital portfolio of the representative agent), standard calculations using...
Persistent link: https://www.econbiz.de/10012890480
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Age-Based Property Tax Exemptions
Banzhaf, H. Spencer - 2019
Many local jurisdictions offer property tax exemptions or similar concessions to older citizens. Such exemptions represent substantial intergenerational transfers and may have important implications for local public finances. The consequences of age-based property tax exemptions depend upon the...
Persistent link: https://www.econbiz.de/10012894430