Narrow search
Showing 1 - 10 of 773
Cover Image
Endogenous Gentrification and Housing Price Dynamics
Hurst, Erik; Guerrieri, Veronica; Hartley, Daniel - National Bureau of Economic Research (NBER) - 2010
In this paper, we begin by documenting substantial variation in house price growth across neighborhoods within a city during city wide housing price booms. We then present a model which links house price movements across neighborhoods within a city and the gentrification of those neighborhoods...
Persistent link: https://www.econbiz.de/10008548802
Cover Image
Continuous Workout Mortgages
Shiller, Robert J.; Wojakowski, Rafal M.; Ebrahim, M. Shahid - National Bureau of Economic Research (NBER) - 2011
Continuous Workout Mortgage (CWM) balance and payments are indexed using market-observable house price index in an economic environment with prepayments. Our main results include: (a) explicit modelling of repayment and interest-only CWMs; (b) closed form formulas for mortgage payment and...
Persistent link: https://www.econbiz.de/10009019683
Cover Image
Household Debt: Facts, Puzzles, Theories, and Policies
Zinman, Jonathan - National Bureau of Economic Research (NBER) - 2014
Borrowing decisions affect most households, with large stakes and implications for subfields as varied as macroeconomics and industrial organization. I review theoretical and empirical work on household debt: its prevalence, level, growth, and composition, as well as various measures of consumer...
Persistent link: https://www.econbiz.de/10010951247
Cover Image
House Prices and Home Owner Saving Behavior
Engelhardt, Gary V. - National Bureau of Economic Research (NBER) - 1995
This paper examines the empirical link between house price appreciation and the savings behavior of home owners during … from the 1984 and 1989 waves of the PSID to construct changes in real household wealth as a measure of household saving … behavior. Cross-time and cross-regional variation in housing market conditions are used to identify behavior savings effects …
Persistent link: https://www.econbiz.de/10005777972
Cover Image
The (Mythical?) Housing Wealth Effect
Calomiris, Charles W.; Longhofer, Stanley D.; Miles, William - National Bureau of Economic Research (NBER) - 2009
Models used to guide policy, as well as some empirical studies, suggest that the effect of housing wealth on … consumption is large and greater than the wealth effect on consumption from stock holdings. Recent theoretical work, in contrast …, argues that changes in housing wealth are offset by changes in housing consumption, meaning that unexpected shocks in housing …
Persistent link: https://www.econbiz.de/10005660134
Cover Image
Does Home Owning Smooth the Variability of Future Housing Consumption?
Sinai, Todd; Paciorek, Andrew - National Bureau of Economic Research (NBER) - 2010
housing are offset by commensurate changes in wealth before the move. Using Census micro-data, we find that the cross …
Persistent link: https://www.econbiz.de/10008727860
Cover Image
Can Owning a Home Hedge the Risk of Moving?
Sinai, Todd; Souleles, Nicholas S - National Bureau of Economic Research (NBER) - 2009
Conventional wisdom holds that one of the riskiest aspects of owning a house is the uncertainty surrounding its sale price, especially if one moves to another housing market. However, households who sell a house typically buy another house, whose purchase price is also uncertain. We show that...
Persistent link: https://www.econbiz.de/10008624605
Cover Image
Foreclosures, House Prices, and the Real Economy
Mian, Atif; Sufi, Amir; Trebbi, Francesco - National Bureau of Economic Research (NBER) - 2011
States without a judicial requirement for foreclosures are twice as likely to foreclose on delinquent homeowners. Comparing zip codes close to state borders with differing foreclosure laws, we show that foreclosure propensity and housing inventory jump discretely as one enters non-judicial...
Persistent link: https://www.econbiz.de/10008788775
Cover Image
The Retirement of a Consumption Puzzle
Hurst, Erik - National Bureau of Economic Research (NBER) - 2008
This paper summarizes five facts that have emerged from the recent literature on consumption behavior during retirement. Collectively, the recent literature has shown that there is no puzzle with respect to the spending patterns of most households as they transition into retirement. In...
Persistent link: https://www.econbiz.de/10005778302
Cover Image
To Leave or Not To Leave: The Distribution of Bequest Motives
Kopczuk, Wojciech; Lupton, Joseph - National Bureau of Economic Research (NBER) - 2005
conclude that, among the elderly single households in our sample, about four-fifths of their net wealth will be bequeathed and …
Persistent link: https://www.econbiz.de/10005087474