Narrow search
Showing 1 - 10 of 128
Cover Image
Intratemporal Nonseparability Between Housing and Nondurable Consumption: Evidence from Reinvestment in Housing Stock
Khorunzhina, Natalia - 2019
Using the data on maintenance expenditures and self-assessed house value, I separate the measure of individual housing … stock and house prices, and use these data for testing whether nondurable consumption and housing are characterized by … nondurable consumption and housing. I reach a similar conclusion for some separate consumption categories, such as food and …
Persistent link: https://www.econbiz.de/10012142395
Cover Image
Estimating temptation and commitment over the life-cycle
Kovacs, Agnes; Low, Hamish; Moran, Patrick - 2020
This paper estimates the importance of temptation (Gul and Pesendorfer, 2001) for consumption smoothing and asset accumulation in a structural life-cycle model. We use two complementary estimation strategies: first, we estimate the Euler equation of this model; and second we match liquid and...
Persistent link: https://www.econbiz.de/10012253295
Cover Image
Wealth inequality and the distributional effects of maximum loan-to-value ratio policy
Gatt, William - 2023
looking at the effect of a reduction in the maximum loan-to-value (LTV) ratio on homeownership rates, house prices and housing … is initially loose, allowing households to lever up against the collateral value of their housing. A reduction in the LTV … is the fall in house prices and the greater is the rise in the share of constrained homeowners and housing wealth …
Persistent link: https://www.econbiz.de/10014335097
Cover Image
Housing and the secular decline in real interest rates
Knell, Markus - 2023
In this paper, I study the role of housing for wealth accumulation and the determination of the equilibrium real … increase in the share of housing wealth of almost 8 pp. All of these patterns are broadly in line with the empirical …
Persistent link: https://www.econbiz.de/10014439445
Cover Image
A search-theoretic approach to efficient financial intermediation
Tripier, Fabien - 2014
Persistent link: https://www.econbiz.de/10010490578
Cover Image
American Dream Delayed: Shifting Determinants of Homeownership
Khorunzhina, Natalia; Miller, Robert A. - 2019
This paper develops and estimates a dynamic model of discrete choice for labor supply, fertility and transition from tenant to home-owner,to investigate the secular decline in home ownership over the past several decades,wholly attributable to households postponing the purchase of their first...
Persistent link: https://www.econbiz.de/10012142399
Cover Image
New flight regimes and exposure to aircraft noise : identifying housing price effects using a ratio-of-ratios approach
Boes, Stefan; Nüesch, Stephan - 2009
. However, we do not find evidence of price changes in the sales market. -- quasi-experimental data ; housing market ; aircraft …
Persistent link: https://www.econbiz.de/10003900914
Cover Image
Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015
Mortgages are prime examples of long-term nominal loans. As a result, under incomplete asset markets, monetary policy can affect household decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. These channels are distinct from the transmission through...
Persistent link: https://www.econbiz.de/10011306278
Cover Image
Nominal rigidities in debt and product markets
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2016
Standard models used for monetary policy analysis rely on sticky prices. Recently, the literature started to explore also nominal debt contracts. Focusing on mortgages, this paper compares the two channels of transmission within a common framework. The sticky price channel is dominant when...
Persistent link: https://www.econbiz.de/10011524379
Cover Image
Nominal rigidities in debt and product markets
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2016
Standard models used for monetary policy analysis rely on sticky prices. Recently, the literature started to explore also nominal debt contracts. Focusing on mortgages, this paper compares the two channels of transmission within a common framework. The sticky price channel is dominant when...
Persistent link: https://www.econbiz.de/10011539811