In this paper we present some results of a research project to develop and estimate a micro-econometric model of residential choice. The model is applied to a sample of Italian chief towns of district. The choice is assumed to depend on household characteristics, income, structural and...

Housing economists have questioned whether current US tax and government mortgage policy actually fosters homeownership. In this paper we examine this question interms of a dynamic general equilibrium model with heterogeneous agents. The model allows households to make saving and shelter...

Existing home sales' share of Canada's economic pie has been rising in recent years, and variation around this trend has resulted in outsized contributions to changes in real gross domestic product (GDP). In this context, we use a cointegration framework to estimate the level of resale activity...

Following the global financial crisis, many countries have introduced or tightened macroprudential policies. Using an agentbased model (ABM), this paper seeks to measure the impact on house price cycles of two distinct borrower-based macroprudential instruments, namely loan-to-income and...

Housing is the greatest asset held by most households, and it is an important determinant of their financing and consumption decisions. Despite the fact that measuring housing wealth is crucial for understanding households' economic behavior, this indicator is currently unavailable in Mexico due...

This paper examines whether machine learning (ML) algorithms can outperform a linear model in predicting monthly growth in Canada of both house prices and existing home sales. The aim is to apply two widely used ML techniques (support vector regression and multilayer perceptron) in economic...

We argue that the interaction between mobility and wealth provides a view that rationalizes low geographic migration rates, despite migration costs being lower than currently thought. We reach this conclusion by developing and solving a quantitative dynamic spatial equilibrium model with...

In this paper we shall examine homeownership trends over the past 3 to 4 decades and discuss differences related to the homeownership gap for women and men, with a focus on most recent trends. We shall compare differences in the US to those in countries with different institutional structures...

DThis paper estimates a Structural Dynamic Factor Model on a panel of 102 US quarterly series. We model economic comovements by means of 5 underlying structural shocks (oil price, productivity, aggregate demand, monetary policy, and housing demand). The results of the benchmark model (impulse...

This paper estimates a Structural Dynamic Factor Model on a panel of 102 US quarterly series. We model economic comovements by means of five underlying structural shocks (oil price, productivity, aggregate demand, monetary policy, and housing demand). The results of the benchmark model (impulse...