of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the … for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate …

in low demand markets and shrink in high demand markets. This is a puzzle. Symmetry of information among buyers and …. Because there is heterogeneity among buyers in the valuation of a given house, sellers set prices strategically. When demand …

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 elastic housing supply have fewer and shorter bubbles, with … exclusively experienced in cities where housing supply is more inelastic. More elastic places had slightly larger increases in …

supply elasticity as an instrument for house price growth, we estimate that the average homeowner extracts 25 to 30 cents for …

We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks … - deviations from a time trend of output per area, which are predominantly caused by weather fluctuations. Demand is identified … using current-period shocks that give rise to exogenous shifts in supply. Supply is identified using past shocks, which …

demand estimates. We study a new dataset from a wireless inventory system installed on 54 vending machines to track product … availability every four hours. The data allow us to account for product availability when estimating demand, and provides a … availability even when availability is only observed periodically. We find significant differences in demand estimates, with the …

economic analyses of supply, demand and harms …

and demand. Supply disruptions turn out to be a bigger factor in historical oil price movements and inventory accumulation … uncertainty about the identifying assumptions themselves. We use this approach to revisit the importance of shocks to oil supply … a smaller factor than implied by earlier estimates. Supply shocks lead to a reduction in global economic activity after …