The proportion of New Zealand households living in owner-occupied dwellings has declined steadily since the early 1990s. The unemployment rate declined steadily as well, except for upward shifts due to the late 1990s Asian Financial Crisis and the Global Financial Crisis a decade later. Research...

The proportion of New Zealand households living in owner-occupied dwellings has declined steadily since the early 1990s. The unemployment rate declined steadily as well, except for upward shifts due to the late 1990s Asian Financial Crisis and the Global Financial Crisis a decade later. Research...

This paper builds a dynamic general equilibrium model of cities and uses it to analyze the role of local housing markets and moving costs in determining the character and extent of labor reallocation in the US economy. Labor reallocation in the model is driven by idiosyncratic city-specific...

This paper explores the degree to which gentrification impacts local labor markets. It begins by describing the nature of employment change in one archetypical gentrifying neighborhood — Chicago's Wicker Park — to motivate the central hypothesis that gentrification is associated with...

Current models fail to concurrently account for several important empirical regularities in the housing and labor markets. I augment the Diamond-Mortensen-Pissarides (DMP) search and matching model of the labor market with a housing market characterized by search and matching frictions,...

We develop a model of a small region with durable housing, endogenous home maintenance, and disaster expectations, in which hurricane strike damage is a function of maintenance decisions. The model implies that declining areas (relative to growing areas) have a less well-maintained housing...

Demographic and institutional elements as important drivers of the housing market should not be neglected since it is not only financial and monetary elements that matter in the case of the housing market. In this context, one relationship, which still remains unclear, is the relationship...

This paper examines whether effects of labor demand shocks on housing prices vary across time and space. Using data on 321 US metropolitan statistical areas, we estimate the medium- and long-run effects of increases in metropolitan statistical area-level employment and total labor income on...

Croatia’s labour market has made important progress over the past decade. Employment rates are rising, reducing the gap with OECD countries, and poverty has fallen. While important weaknesses remain, many dimensions of equity and working conditions are similar to OECD countries. Continuing...