Assets in tax-deferred retirement accounts (TDA) and housing are two major components of household portfolios. In this … paper, we develop a life-cycle model to examine the interaction between households' use of TDA and their housing decisions … earlier in their lives. On the other hand, housing-related policies, such as a minimum down payment requirement and mortgage …

This paper examines the welfare cost of rare housing disasters characterized by large drops in house prices. I … construct an overlapping generations general equilibrium model with recursive preferences and housing disaster shocks. The … likelihood and magnitude of housing disasters are inferred from historic housing market experiences in the OECD. The model shows …

the United States, housing collateral effects on consumption are absent. Given credit conditions, rising house prices … mostly explained by movements in incomes, housing supply, mortgage interest rates and credit conditions, suggesting that the …

In this paper, we estimate the effect on housing prices of the expansion of the Vancouver SkyTrain rapid transit … expansion increases housing prices not only in neighborhoods where the expansion occurred, but also in those with access to pre …-existing segments of the network. We show how these network housing price effects depend on household commuting patterns, and discuss …

The common-factor hypothesis is one possible explanation for the housing wealth effect. Under this hypothesis, house … price appreciation is related to changes in consumption as long as the available proxies for the common driver of housing … and non-housing demand are noisy and housing supply is not perfectly elastic. We simulate a model in which a common factor …

general equilibrium housing model and find that these three factors together account for over half of the increase in house … due to higher demand for mortgage loans. This increases households' savings in financial assets and leaves their housing … their wealth from financial assets to housing assets, which dramatically drives up house prices. …

Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime …-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household …

In this paper, we build a dynamic stochastic general-equilibrium model with housing and household debt, and compare the … effectiveness of monetary policy, housing-related fiscal policy, and macroprudential regulations in reducing household indebtedness …