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Housing market bubbles and business cycles in an agent-based credit economy
Erlingsson, Einar Jon; Cincotti, Silvano; Stefansson, Hlynur - 2013
In this paper the authors present an agent-based model of a credit network economy. The artificial economy includes different economic agents that interact using simple behavioral rules through various markets, i.e., the consumption goods market, the labor market, the credit market and the...
Persistent link: https://www.econbiz.de/10009751106
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Housing market bubbles and business cycles in an agent-based credit economy
Erlingsson, Einar Jon; Teglio, Andrea; Cincotti, Silvano; … - 2014
This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit network economy. A set of computational experiments have been carried out in order to explore the effects of different households’ creditworthiness conditions required by banks...
Persistent link: https://www.econbiz.de/10010248859
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Who Benefited from the Mortgage Lending Boom Leading to the Housing Crisis?
Rojas, Alejandro - 2020
strongest for lower-income and minority borrowers. However, I also show that there was pronounced lending growth for all … borrowers, regardless of income or race, in lower-income and higher-minority neighborhoods. Importantly, each of these results … explained by government housing policies which mandated increased lending to lower-income borrowers as well as borrowers in …
Persistent link: https://www.econbiz.de/10012842571
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Institutional investors and the U.S. housing recovery
Lambie-Hanson, Lauren; Li, Wenli; Slonkosky, Michael - 2019
We study the house price recovery in the U.S. single-family residential housing market since the outbreak of the mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using comprehensive property-level transaction data, we show...
Persistent link: https://www.econbiz.de/10012197788
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FX Mortgages, Housing Boom and Financial Stability – A Case Study for Poland (2005-2015)
Laszek, Jacek - 2016
Poland underwent a quick transition of the economy, but its housing market and housing policy did not change quick enough. The economic growth that followed the EU accession lead to a rising housing demand, which was fuelled by quite cheap FX denominated mortgages. Those allowed many households...
Persistent link: https://www.econbiz.de/10012982743
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The Global Housing Affordability Crisis : Policy Options and Strategies
Saiz, Albert - 2023
Housing prices are rising faster than incomes in many areas of the world, reducing well-being and engendering social discontent. Passivity by municipal and national governments is no longer an option. In this essay, I will describe the tradeoffs between different housing policy objectives of...
Persistent link: https://www.econbiz.de/10014356075
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Getting at Systemic Risk Via an Agent-Based Model of the Housing Market
Geanakoplos, John - 2012
Systemic risk must include the housing market, though economists have not generally focused on it. We begin construction of an agent-based model of the housing market with individual data from Washington, DC. Twenty years of success with agent-based models of mortgage prepayments give us hope...
Persistent link: https://www.econbiz.de/10013109559
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Property prices and real estate financing in a turbulent world ; [... on 15th November 2012 in Copenhagen, SUERF and Nykredit in association with Danmarks Nationalbank organised a...
Balling, Morten (ed.); Berg, Jesper (contributor);  … - 2013
Persistent link: https://www.econbiz.de/10010240347
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Property prices and real estate financing in a turbulent world
Balling, Morten (ed., introduction);  … - Conference on Property Prices and Real Estate Financing …; … - 2013
On 15th November 2012 in Copenhagen, SUERF and Nykredit in association with Danmarks Nationalbank organised a conference on "Property prices and real estate financing in a turbulent world". The papers included in this SUERF Study are based on contributions to the conference.
Persistent link: https://www.econbiz.de/10011711756
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Taming the Housing Crisis : An LTV Macroprudential Policy
Forster, Robert - 2020
This paper develops a DSGE framework featuring a heterogeneous housing market, endogenousdefault, and a banking sector. We find that the idiosyncratic mortgage risk shock plays an importantrole in explaining the fluctuations of house prices during the mid-1980s and the years leading up tothe...
Persistent link: https://www.econbiz.de/10012826836