In this essay, we review the basic economics of housing supply and the functioning of US housing markets to better …

specification on our data, we obtain values for the elasticity of expenditures to the housing net worth shock that are virtually …, the estimated elasticity is consistent, theoretically and quantitatively, with a simple calibrated model with wealth …

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 …

labor supply elasticities were small, recent work has identified three key reasons that the aggregate elasticity may be … estimates for aggregate labor supply. Third, structural estimation of responses along the extensive (i.e., employment) margin …The response of aggregate labor supply to various changes in the economic environment is central to many economic …

In this paper I try to determine whether international trade has been increasing the own-price elasticity of demand for … elasticity patterns. Thus the time series of labor-demand elasticities are explained largely by a residual, time itself. This …

the price-elasticity of smoking help predict trends in smoking from 1995 to 2010. The demographics of the smoking … considerably smaller than smoking demographics combined with prior consensus elasticity estimates would predict. Our results …