This paper assesses the predictive power of variables that measure market tightness, such as seller's bargaining power and sale probabilities, on future home prices. Theoretical insights from a stylized search-and-matching model illustrate that such indicators can be associated with subsequent...

This paper compares the performance of different forecasting models of California house prices. Multivariate, theory-driven models are able to outperform a theoretical time series models across a battery of forecast comparison measures. Error correction models were best able to predict the...

The skill intensity ratio (SIR) varies across cities. This variation education has implications for economic research. Black, Kolesnikova, and Taylor (2009) demonstrate that estimated returns to education vary with housing cost. However, if differences in the SIR are caused by variation in...

The Federal Housing Administration (FHA) deserves considerable credit for helping support the housing market during the recent financial crisis by increasing its own market share. However, as the recovery continues, the FHA can gradually return to its "traditional" role as an insurer of...

Based on what economics students say and how they play games, economics students appear less cooperative than other students. But appearances can be deceiving: the evidence in this paper indicates that the actual behavior of economics students is more cooperative than that of other students. The...

This paper develops a new urban simulation model with endogenous population, housing supply and demand, and highway use and congestion. These features allow the model to simulate cities of different sizes with a single parameterization and hence to study the partial effect of city size...