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Digital platforms are not only match-making intermediaries but also establish internal rules that govern all users in their ecosystems. To better understand the governing role of platforms, we study two Airbnb pro-guest rules that pertain to guest and host cancellations, using data on Airbnb and...
Persistent link: https://www.econbiz.de/10012585362
Using bi-weekly snapshots of Zillow in three US cities, we document how home sellers and buyers interact with Zillow's Zestimate algorithm during the sales cycle of residential properties. We find that listing and selling outcomes respond significantly to Zestimate, and Zestimate is quickly...
Persistent link: https://www.econbiz.de/10013172179
-cycle savings. In this paper we examine the role of housing prices in affecting the living arrangements of adult family members and … government rules determining the supply of land for residential housing, we find that increases in housing prices significantly … income, in part due to the subsidies to the young from sharing housing with parents. Based on our estimates of the effects of …
Persistent link: https://www.econbiz.de/10012480153
housing speculation during the U.S. housing boom in the 2000s. We find that housing speculation, anchored, in part, on … extrapolation of past housing price changes, led not only to greater price appreciation, economic expansions, and housing …
Persistent link: https://www.econbiz.de/10012480400
generally believed to be a dominant driving force. Motivated by a recent finding of a high housing vacancy rate in urban China …, particularly in their ownership of housing. Furthermore, we provide evidence that at the prefecture level, the size of redefined … migrants is significantly related to residential land supply, and to the proportion of households holding vacant housing units …
Persistent link: https://www.econbiz.de/10012480529
disease by promoting housing stability. Housing precarity, which includes both the risk of eviction and utility disconnections … infections rates could have been reduced by 8.7% and deaths by 14.8%. Housing precarity policies that prevent eviction and …
Persistent link: https://www.econbiz.de/10012482612
Since the mid-1980s, monetary policy has contributed to a great moderation of the housing cycle by responding more … simulation with a simple model of the housing market shows that this deviation may have been a cause of the boom and bust in … housing starts and inflation in the last two years. Moreover, a significant time series correlation between housing price …
Persistent link: https://www.econbiz.de/10012464964
The housing sector is now (September 2007) at the root of three distinct but related problems: (1) a sharp decline in …
Persistent link: https://www.econbiz.de/10012465177
in which households face housing collateral constraints. An increase in the ratio of housing to human wealth loosens … equity decreases as a result. Feeding the historical time series of US housing collateral into the model replicates four … equity holders, especially in the 1990s. (3) The risk-free rate and the housing collateral ratio are strongly positively …
Persistent link: https://www.econbiz.de/10012465895
nondurable consumption, or b) the implications for portfolio allocation of housing risk arising from variation in the relative … price of housing. By introducing an endogenously determined but infrequently adjusted state variable, the housing model … utility function which nests both the housing model and habit persistence, the Euler equation for nondurable consumption is …
Persistent link: https://www.econbiz.de/10012468235