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W.U.I. on Fire : Risk, Salience & Housing Demand

McCoy, Shawn J. - 2014

We investigate the effects of wildfires on risk perceptions by quantifying the impact of severe wildfires on housing … between locations that vary in their perceived level of fire risk. The model allows us to infer the evolution of risk … analysis is based on a multi-dimensional characterization of the potential linkages between fire events and risk perceptions …

Persistent link: https://www.econbiz.de/10012458021

Mortgage Default Risk and Real Estate Prices : The Use of Index-Based Futures and Options in Real Estate

Case, Karl E. - 1995

portfolios could hedge some of the risk of default by taking positions in futures or options markets for residential real estate …

Persistent link: https://www.econbiz.de/10012473809

Are Corporate Default Probabilities Consistent with the Static Tradeoff Theory?

Hovakimian, Armen - 2011

Default probability plays a central role in the static tradeoff theory of capital structure. We directly test this … theory by regressing the probability of default on proxies for costs and benefits of debt. Contrary to predictions of the … theory, firms with higher bankruptcy costs, i.e., smaller firms and firms with lower asset tangibility, choose capital …

Persistent link: https://www.econbiz.de/10012461367

Rollover Risk and Credit Risk

He, Zhiguo - 2010

This paper models a firm's rollover risk generated by conflict of interest between debt and equity holders. When the …

Persistent link: https://www.econbiz.de/10012462997

Foreclosure Spillovers within broad Neighborhoods

Huang, Weiran; Nelson, Ashlyn Aiko; Ross, Stephen L. - National Bureau of Economic Research - 2021

Most evidence on foreclosure spillovers identifies localized effects that are modest in magnitude, but these effects could multiply to larger aggregate effects across broad neighborhoods. We test this proposition developing a proxy for the fraction of mortgages in negative equity during the...

Persistent link: https://www.econbiz.de/10012533400

An IV Hazard Model of Loan Default with an Application to Subprime Mortgage Cohorts

Palmer, Christopher J. - National Bureau of Economic Research - 2023

This paper develops a control-function methodology accounting for endogenous or mismeasured regressors in hazard models. I provide sufficient identifying assumptions and regularity conditions for the estimator to be consistent and asymptotically normal. Applying my estimator to the subprime...

Persistent link: https://www.econbiz.de/10014447321

Are Swedish House Prices Too High? Why the Price-to-Income Ratio Is a Misleading Indicator

Svensson, Lars E. O. - National Bureau of Economic Research - 2023

According to ECB (2023) and European Systemic Risk Board (2022), Swedish owner-occupied housing (OOH) was overvalued by …

Persistent link: https://www.econbiz.de/10014436993

Discovery of Unregulated Contaminants in Drinking Water : Evidence from PFAS and Housing Prices

Marcus, Michelle M.; Mueller, Rosie - National Bureau of Economic Research - 2023

Our understanding of individuals' response to information about unregulated contaminants is limited. We leverage the highly publicized social discovery of unregulated PFAS (per- and polyfluoroalkyl substances) contamination in public drinking water to study the impact of information about...

Persistent link: https://www.econbiz.de/10014372488

Supply Constraints do not Explain House Price and Quantity Growth Across U.S. Cities

Louie, Schuyler; Mondragon, John; Wieland, Johannes - National Bureau of Economic Research - 2025

The standard view of housing markets holds that the flexibility of local housing supply-shaped by factors like geography and regulation-strongly affects the response of house prices, house quantities and population to rising housing demand. However, from 2000 to 2020, we find that higher income...

Persistent link: https://www.econbiz.de/10015361452

Public Education and Intergenerational Housing Wealth Effects

Gilraine, Michael; Graham, James; Zheng, Angela - National Bureau of Economic Research - 2023

While rising house prices benefit existing homeowners, we document a new channel through which price shocks have intergenerational wealth effects. Using panel data from school zones within a large U.S. school district, we find that higher local house prices lead to improvements in local school...

Persistent link: https://www.econbiz.de/10014322733