One explanation of the recent real estate bubble might point to homeowners' artificially restricting housing supply. While empirical work has not found unequivocal evidence in support of this hypothesis, homeowners may well be restricting supply nonetheless, and without this restriction...

Subsidizing homeownership makes cities decentralize, so Muth (1967) suggested over half a century ago, and so Voith (1999) and Glaeser (2011) have argued more recently. This paper provides a first quasi-experimental test of "Muth's hypothesis". We analyze a homeownership subsidy's effects on...

This paper examines the labour market matching process by distinguishing its two component stages: the contact stage, in which job searchers make contact with employers and the selection stage, in which they decide whether to match. We construct a theoretical model explaining two-sided selection...