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This paper employs panel data on 413 counties and cities over 2004-2009 to investigate the local supply of new single-family housing in Germany. Construction activity in local housing markets (measured by new housing permits related to the local housing stock) is modeled as a function of local...
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We document a housing portfolio channel of quantitative easing (QE) transmission exploiting variation in German household data in a difference-in-differences setting around QE adoption in 2015. We find that QE encourages households with larger initial bond positions to rebalance more toward...
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cultural divides, this paper introduces the idea of housing cleavages, i.e., homeownership versus tenancy and high-price versus … homeownership rate and conservative house price development, Germany represents a least-likely case for housing to be of importance …, and homeownership are positively associated with voting for center-right parties and voter turnout, while social tenancy …
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